Applied Energetics, Inc. Appoints Christopher Donaghey as President and CEO

Applied Energetics, Inc. (OTCQB: AERG) recently announced the appointment of Christopher Donaghey as its new President and Chief Executive Officer. The decision, effective from November 25, 2024, follows the departure of Dr. Gregory Quarles from the role of President and Executive Officer.

Donaghey, aged 52, steps into this executive position with an extensive background in the financial sector and a profound understanding of the defense industry. Having served as the company’s Chief Operating and Financial Officer since August 2022, Mr. Donaghey comes with a wealth of experience, having previously held key positions at Science Applications International Corporation (SAIC) and KeyW Corporation, among others.

Bradford T. Adamczyk, Executive Chairman of Applied Energetics, expressed his enthusiasm for the appointment, stating, “We are pleased to announce Chris as our new Chief Executive. His diverse set of experiences in the defense industry, coupled with his keen understanding of our operations and customers’ needs, make him ideally suited to lead the company during its next phase of growth and customer adoption.”

The company highlighted that Donaghey’s appointment marks a strategic move to drive Applied Energetics forward, aiming to achieve critical milestones in product deployment, expand customer contracts, and foster industry partnerships. Moreover, the company sees his leadership as pivotal in exceeding expectations across various stakeholders.

Mr. Donaghey’s employment agreement outlines key terms, including an annual cash salary of $400,000, eligibility for bonuses, and incentive stock options tied to achieving specific revenue targets. In the event of a termination under certain circumstances, the agreement provides for severance packages and base compensation stipulations.

As part of this transition, Dr. Gregory J. Quarles has stepped down as President and Executive Officer, assuming the designation of CEO Emeritus. Acknowledging Dr. Quarles’ contributions, Adamczyk stated, “We would like to thank Greg for his outstanding leadership and contributions during the last eight years. He has shaped the company’s portfolio to meet the challenges of today’s global security environment, leaving it far better positioned for success.”

In conclusion, Applied Energetics anticipates a period of strategic development and growth under Donaghey’s leadership while expressing gratitude for Dr. Quarles’ significant role in steering the company’s trajectory.

For more information, the press release detailing Donaghey’s appointment as President and CEO can be found on Applied Energetics’ website or its recent SEC Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Applied Energetics’s 8K filing here.

Applied Energetics Company Profile

Applied Energetics, Inc engages in the provision of advanced optical technologies and ultrashort pulse directed energy solutions utilizing dual-use laser and optical technologies to defense, national security, industrial, biomedical, and scientific customers worldwide. It develops and holds various intellectual property rights such as laser guided energy and laser induced plasma channel technology for used in high-tech directed energy systems.