SunEdison: Changes To Drive Organizational Alignment And Effectiveness
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- Emmanuel T. Hernandez Appointed Executive Chairman of SunEdison Board
- Peter Blackmore Named Chairman of TerraForm Power and TerraForm Global Boards, Steps Down from SunEdison Board
- Brian Wuebbels Assumes Additional Role of CEO of TerraForm Power and TerraForm Global
SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, announced that the Board of Directors has appointed Emmanuel T. Hernandez, SunEdison's current Chairman, to the role of Executive Chairman, where he will work closely with Ahmad R. Chatila, President and Chief Executive Officer, and the SunEdison management team as the company continues to implement its plans to improve the alignment and effectiveness of its operating structure, drive operational efficiency and focus on its organic development opportunities. The Company also announced that Peter Blackmore has stepped down from the Board and will join TerraForm Power, Inc. and TerraForm Global, Inc. as Chairman of the Board of Directors at both companies. Steven Tesoriere, who has separately resigned from the Board of Directors for TerraForm Power and TerraForm Global, will remain on the SunEdison Board.
SunEdison also announced that Brian Wuebbels, Executive Vice President and Chief Financial Officer, will assume the additional roles of Chief Executive Officer of TerraForm Power and TerraForm Global, effective immediately. Mr. Wuebbels will succeed Carlos Domenech, who is leaving TerraForm Power and TerraForm Global as well as SunEdison.
Emmanuel Hernandez said, "The Board and management are aligned around SunEdison's strategy and I look forward to working closely with Ahmad and the management team as we continue to improve the organizational alignment and the effectiveness of our structure to focus on the organic development opportunities that lie ahead in order to deliver value for shareholders."
Ahmad Chatila commented, "Manny brings distinctive expertise of the solar and financial markets. I look forward to continuing to benefit from his insights and perspective as we take aggressive steps to enhance our operations and drive improved cash flow. In addition, I look forward to partnering with Peter and the executive team at TerraForm Power and TerraForm Global to build independent, but strong and aligned companies that will drive shareholder value."
SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.SunEdison.com