Power Analytics Corp., a provider of power management solutions, has named its CTO of eight years Kevin Meagher president and CEO. On 19 August 19 Meagher will replace Michael Nark at the company's steering wheel, but also keep his CTO role.

The company did not explain in its announcement why the sudden change had occurred and omitted information about Nark's future plans. Meagher told the Triangle Business Journal, however, that Nark's commute from Atlanta, where he lives, to the company's offices in Raleigh, North Carolina, was difficult.

Nark will remain with the company as a part-time consultant, according to the Business Journal. The company's spokeswoman could not confirm reasons for the switch and Nark's future plans in time for publication.

Power Analytics said Meagher had extensive experience in technology start-ups, software development and creation of new technologies. He invented the Power Analytics suite of software marketed under the Paladin Software brand and holds more than 15 patents.

Mark Ascolese, executive chairman of the company's board of directors, said, “We are proud to have Kevin lead the company with his wealth of experience and great commitment to the software applications and solutions that give our customers control over critical power infrastructures.”

Meagher underlined the depth of Power Analytics' intellectual property, as well as its 3,000-customer woldwide installed base. “And, over the next few months, we will be announcing new and expanded initiatives and activity to advance our market leadership position while continuing to build a world-class team,” he added.

Paladin Software products are currently used to manage more than US$120bn worth of customer assets, including financial data centers, air-traffic control sites, deep-sea oil platforms and power generation and distribution facilities, the company said.

Power Analytics recently received a contract to assist the US military in reducing its energy consumption and improving the security of its electrical supply at three separate San Diego area naval bases.