Residential solar company SunPower Corp. has started the search for a permanent CEO after Peter Faricy departed the position on Feb. 26, the company said Feb. 27.
An Office of the Chairman has been established until a successor is named. The office will be led by Principal Executive Officer Tom Werner, who is also executive board chairman. It includes CFO Elizabeth Eby, Chief Legal Officer Eileen Evans and other executive leadership team members, according to a news release.
“Over the past three years, SunPower has made strides toward expanding the footprint of residential solar, capturing a market-leading position in the new homes business and expanding consumer financing for solar through SunPower Financial,” Werner said after thanking Faricy for his contributions. “I am confident in our Office of the Chairman and our Executive Leadership Team’s abilities to lead us through this transitional period while we search for a new CEO.”
The California-based company provides residential solar, storage and energy services in North America. Earlier this month, the company reported revenue from continuing operations fell to about $357 million for fourth-quarter 2023, compared to $498 million a year earlier. It reported a net income loss of $115.6 million from continuing operations, down from $19.5 million.
Recommended Reading
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.
Enterprise’s SPOT Deepwater Port Struggles for Customers
2024-04-25 - Years of regulatory delays, a loss of commercial backers and slowing U.S. shale production has Enterprise Products Partners’ Sea Port Oil Terminal and rival projects without secured customers, energy industry executives say.
Report: Crescent Midstream Exploring $1.3B Sale
2024-04-23 - Sources say another company is considering $1.3B acquisition for Crescent Midstream’s facilities and pipelines focused on Louisiana and the Gulf of Mexico.
For Sale? Trans Mountain Pipeline Tentatively on the Market
2024-04-22 - Politics and tariffs may delay ownership transfer of the Trans Mountain Pipeline, which the Canadian government spent CA$34 billion to build.
Energy Transfer Announces Cash Distribution on Series I Units
2024-04-22 - Energy Transfer’s distribution will be payable May 15 to Series I unitholders of record by May 1.