Don Gillispie, founder of Alternate Energy Holdings, Inc., has stepped down as CEO and director after seven years due to health concerns. Gillispie will assist the company part-time as a consultant as his health allows.
The AEHI Board of Directors has appointed Pete Honeysett, director of nuclear projects, as interim president.
Honeysett has 30 years of experience in the nuclear industry and has worked for AEHI since October 2011. He previously worked for Florida Power and Light in operations at the St. Lucie Nuclear Power Plant in Jensen Beach, Fla.
The Associated Press reports the company is under investigation by federal prosecutors. Federal Securities and Exchange Regulators have demanded a judge freeze AEHI’s assets, saying Gillispie hid efforts to direct what little cash the company had to a fraudulent investment scheme. The SEC says AEHI’s final $2 million is tied up in a Nevada lawsuit.