Concepts NREC Announces New CEO

White River Junction, VT, USA – Jan 4, 2023 — Concepts NREC announced today that Dr. David Japikse, Founder, longtime Chief Executive Officer, and Chairman of the Board of Directors has retired from the Chief Executive Officer role effective December 31, 2022. Dr. Japikse will remain Chairman of the Board and continue to contribute his technical expertise to the company. Current Chief Operating Officer Sean McDermott succeeds Japikse as Chief Executive Officer as of January 1, 2023.

McDermott will be responsible for overseeing all aspects of the business and will work closely with the Board of Directors to set the company's long-term vision and strategy. "We are thrilled to have Sean step into this new role," said Dr. Japikse. "Sean has proven to be a valuable asset to the company and I have no doubt that he will continue to drive the company forward as CEO."

McDermott has been with Concepts NREC since 2015. In that time he has held many senior roles including Vice President of Products, President, and most recently, Chief Operating Officer.

Over the last 8 years, Sean has played a crucial role in driving the company's growth and success with a track record of exceptional leadership and a deep understanding of the company's operations and strategy.

“Dr. Japikse’s vision and dedication to excellence have inspired all of us here at Concepts NREC, and we are fortunate to have had the opportunity to work with him and under his leadership,” said McDermott. “He set a high standard for future leaders to follow, and his legacy will continue to shape the culture of Concepts NREC for years to come. I am honored to be given the opportunity and look forward to working with our talented team to continue to drive growth and success for the company."

About Concepts NREC

Headquartered in the USA, Concepts NREC is the only company in the world with end-to-end capabilities to take turbomachinery products from concept to reality. For more than 65 years, Concepts NREC has been at the forefront of turbomachinery design and innovation, providing engineering services, design software, CAM software, precision manufacturing, assembly, testing, training, and installation. Our mission is to provide the cutting-edge turbomachinery products, tools, and solutions the world needs for a sustainable future.

To learn more, visit our website at www.conceptsnrec.com.