June 10 (Bloomberg) -- Ocean Power Technologies Inc. has fired Chief Executive Officer Charles Dunleavy. David Keller, a director, was appointed interim CEO.
Dunleavy was terminated “for cause” yesterday and will receive no severance payments, according to a filing with the Securities and Exchange Commission today. No details were provided.
Ocean Power, based in Pennington, New Jersey, produces systems that generate electricity from the motion of waves.