Ideal Power Fires Founder for Ethics Violation

By [email protected] Austin-based power conversion company Ideal Power fired its founder and chief technologist last week over a personal financial dealing.

Bill Alexander pledged shares of company stock as collateral to secure a personal loan, in violation of Ideal’s ethics policy, CEO Dan Brdar confirmed. When the deal came to light, leadership fired Alexander on November 7. The termination for cause meant Alexander did not receive severance pay, per the terms of his contract.

“Your obligation as a director and an officer is to your shareholders,” Brdar said. “If you’re pledging your shares against a personal loan, then you have an obligation to whoever

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