SunEdison shakes up board of directors to improve operating structure

SunEdison is trying to shake things up a bit to “improve its alignment and the effectiveness of its operating structure,” starting with announced a few moves on its board of directors. The company 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. 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.

Sun EdisonSunEdison 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.

“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,” Hernandez said

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.”


— Solar Builder magazine








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