Able Energy, Inc., Appoints Gregory D. Frost, Esq., As CEO And Chairman
ROCKAWAY, N.J. - October 13, 2005--Able Energy, Inc. (Nasdaq: ABLE) announced today that it has appointed Gregory D. Frost, Esq., the company’s current General Counsel, to the additional positions of Chief Executive Officer and Chairman of the Board, effective immediately. Mr. Frost replaces Christopher P. Westad, who has been serving as Acting Chief Executive Officer since February 2005. Mr. Westad continues to serve as the company’s President.
Gregory D. Frost, Esq., 58, became General Counsel and a Director of the company in April 2005. From 1974 to the present, he has been a practicing attorney in the State of New York and since 1999 has been a partner of the law firm of Ferber Frost Chan & Essner, LLP (formally known as Robson Ferber Frost Chan & Essner LLP) which has in the past performed, and continues to perform, legal services for the company. Mr. Frost's main areas of practice have been mergers and acquisitions, and general corporate and securities matters. From 1975 through 1980, he was Assistant General Counsel at The Singer Company and RH Macy & Co. Thereafter, Mr. Frost spent approximately 12 years as a partner of the law firm of Bower & Gardner, managing their corporate and securities department. In 1970, Mr. Frost received a B.A. degree from New York University (Stern School). He received his Juris Doctorate in 1973 from New York Law School, and in 1979 obtained a Master of Law Degree (LLM) in Corporate Law from New York University Law School.
In commenting on the appointment, President Christopher Westad stated, "The appointment of Gregory Frost as CEO and Chairman will significantly strengthen our management team while providing strong leadership for our future growth and expansion”. Westad continued, “He has already been a valuable member of our management team since coming on board as General Counsel. His experience and familiarity with our company and business will allow him to quickly and effectively assume his new leadership role as we continue to work to grow our core business.”
Able is a holding company for five operating subsidiaries, which are engaged in the retail distribution of, and the provision of services relating to, home heating oil, diesel fuel, kerosene, and in addition, Able provides complete HVAC installation and repair.
Able's common stock is traded on the Nasdaq SmallCap Market under the symbol "ABLE" and on the Boston Stock Exchange under the symbol "AEI".
Contact: Able Energy, Inc. Christopher P. Westad, 973-625-1012