Solaredge Technologies, Inc. (NASDAQ: SEDG) has announced the appointment of Shuki Nir as the company's new Chief Executive Officer (CEO), effective immediately. Nir, who previously served as Solaredge's Chief Marketing Officer (CMO), will succeed Ronen Faier, who has been the company's interim CEO since August 2024. Additionally, Nir will also replace Zvi Lando as a member of the board of directors.
Nir brings with him nearly three decades of experience in leadership roles at multinational technology companies. Notably, he served as the General Manager of the consumer business at SanDisk (NASDAQ: SNDK), where he led the strategic transformation and turnaround of a loss-making division into a profitable global market leader. His extensive tenure includes strategic consulting for multinational corporations and serving on several boards, including Ironsource (NYSE: IS) and Kornit Digital (NASDAQ: KRNT). Nir holds an MBA, an LLB, and a BA in accounting from Tel Aviv University.
Avery More, Chairman of the Board, expressed his confidence in Nir's exceptional leadership, operational expertise, and ability to build high-performing teams. More highlighted that after a rigorous global search and evaluating several outstanding external and internal candidates, Nir stood out as the right candidate to lead Solaredge into its next phase of growth.
Commenting on his appointment, Nir stated, "I am honored to take on the opportunity to lead Solaredge at such a crucial time for the company and the industry. With our leading technological capabilities, best-in-class product lineup, and extraordinarily talented team, I believe we have all the key ingredients to strengthen our market position and continue to deliver value to our customers, employees, and shareholders."
Meanwhile, Faier, the interim CEO, expressed his excitement about welcoming Nir as Solaredge's next CEO, stating, "I believe he has the passion, the drive, and the vision that make him the right person to lead Solaredge forward."
Solaredge Technologies, Inc. is a global leader in smart energy technology, focusing on innovation to create smart energy solutions that power lives and drive future progress. The company has developed an intelligent inverter solution that aims to maximize power generation while lowering the cost of energy produced by photovoltaic (PV) systems. Additionally, Solaredge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, and grid services solutions.
With the appointment of Shuki Nir as CEO, Solaredge is poised to enter a new phase of growth and innovation under his leadership. The market has reacted to these announcements by moving the company's shares -10.5% to a price of $12.59. For more information, read the company's full 8-K submission here.
