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Ocean Power Technologies Terminates CEO Dunleavy ‘For Cause’

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.

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To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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