SunPower Appoints Tom Werner as Executive Chairman

SunPower Corp. (NASDAQ: SPWR), a leading residential solar technology and energy services provider, has announced the appointment of Tom Werner as the Executive Chairman of the Board, effective Feb. 19, 2024. In response to this development, Peter Faricy, SunPower's CEO, expressed enthusiasm about Werner's return, stating, "Tom's unmatched experience in the solar business and his legacy institutional knowledge will be invaluable. We look forward to partnering closely with Tom to shepherd SunPower into the future."

Werner, who previously served as SunPower's CEO and Chairman of the Board for nearly 18 years, expressed his pleasure in returning to the company, saying, "I am pleased to return to SunPower and work hand in hand with the company and the board as we change the way our world is powered."

Regarding the company's outlook, Faricy indicated, "As we move forward into our next era, and navigate this critical moment for our industry, we are pleased to welcome Tom Werner back to SunPower." He further added, "Building on the momentum from the additional capital, we look forward to turning our attention to strengthening SunPower's core business. Together, we will combine our knowledge and expertise to serve SunPower's shareholders, partners, and customers."

The company's shares have experienced a 3.9% decline today, and are currently trading at a price of $3.48.

SunPower (NASDAQ: SPWR) is a leading residential solar, storage, and energy services provider in North America, offering solar + storage solutions that provide customers with control over electricity consumption and resiliency during power outages, while delivering cost savings to homeowners.

The company's full 8-K submission is available here.

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