Fallbrook Technologies To Move HQ To Texas

San Diego-based Fallbrook Technologies, which develops continuously variable planetary (CVP) transmissions for the electric bicycle and automobile market, said today that it is moving its headquarters out of San Diego to Cedar Park, Texas. The firm said the move comes because the "vast majority" of its staff is already located in the area. Fallbrook announced the move with the appointment of a new CFO, John K, Penver, who replaces current CFO Nicole T. Nicks. Penver was previously CFO of Active Power, a Texas developer of battery backup systems.