Complete Solar Appoints Solar Industry Veteran Dan Myers Executive Vice President of New Homes Division

Rhea-AI Summary

Complete Solar Holdings, Inc. (Nasdaq: CSLR) has appointed Dan Myers as Executive Vice President of its New Homes Division. Myers, a solar industry veteran with a decade of experience, will report to CEO T.J. Rodgers and oversee the division supporting builders of new residential communities. His background includes leadership roles at major residential solar installers and consulting for Fortune 100 solar developers.

CEO Rodgers highlighted Myers' supply chain expertise as important for managing the geographically dispersed New Homes Division. Myers' immediate challenge involves addressing the aftermath of SunPower's bankruptcy, providing support for legacy projects while developing long-term solutions with new builder partners. This appointment aligns with Complete Solar's strategy of leveraging experienced leadership to navigate industry challenges and expand its residential solar offerings.

Positive

• Appointment of experienced solar industry veteran Dan Myers to lead New Homes Division
• Myers brings valuable supply chain expertise to manage geographically dispersed operations
• Opportunity to support legacy SunPower community projects and develop new builder partnerships

Negative

• Challenges in addressing aftermath of SunPower bankruptcy affecting builder relationships
• Potential disruption in transitioning from SunPower's legacy obligations to new solutions

LEHI, Utah, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Complete Solar Holdings, Inc. d/b/a Complete Solar (“Complete Solar” or the “Company”) (Nasdaq: CSLR), a solar technology, services, and installation company, today announced the appointment of Dan Myers to the position of Executive Vice President, New Homes Division, effective immediately. Mr. Myers will report to CEO, T.J. Rodgers and have financial and general management responsibility for the Company’s New Homes Division, which supports builders who create new residential communities.

Mr. Myers has a decade-long track record in the solar industry, having held leadership positions at the largest residential installers in the country, including Vivint Solar and Sunrun. He is a supply chain expert who has also been a technical consultant to several Fortune 100 solar developers and buyers on more than 10 gigawatts of solar projects, about 1% of U.S. capacity. Prior to joining the solar industry, Mr. Myers served at U.S. embassies overseas.

Complete Solar CEO, T.J. Rodgers said, “I met Dan when he brought his family bus to pick me up at the Provo airport. During the brief ride to Orem, a suburb in Salt Lake’s ‘Solar Valley,’ I learned about his family adventures on the bus, how the Blue Raven Division of SunPower had upgraded an economical 1985-vintage building in an Orem office park that enabled its employees to work as a co-located team, and how we could integrate our companies simply and economically by renovating another building in the same Industrial Park – which we are now implementing.

Rodgers continued, “I then received an excellent all-day operations review from the Blue Raven staff, which was also smart, animated and opinionated – like Dan. For some reason, Blue Raven was never fully integrated into SunPower, so I took careful notes that day on who could take on more responsibility in the combined company.

Rodgers concluded, “Dan brings supply chain expert leadership to our New Homes Division that is spread out all over the country, more resembling a supply chain operation than our other two divisions, Blue Raven and Dealer Sales, which have factory-like operations. Now, our best supply chain expert runs the New Homes Division, and like other executives in our increasingly lean Company, wears two hats. Dan had a very short honeymoon. He parachuted into the turmoil of the SunPower bankruptcy which ended SunPower’s legacy obligations to the builders. This gave Complete Solar the opportunity to offer immediate support for legacy SunPower community projects for a year while we develop and deploy long-term solutions with our new builder partners.”

About Complete Solar
With its acquisition of SunPower assets, Complete Solar has become a leading solar services provider in North America. Complete Solar’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit https://www.completesolar.com.

Forward Looking Statements
This press release may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the referenced transactions. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions, but the absence of these words does not mean that a statement is not a forward-looking statement. Forward-looking statements are forecasts, predictions, projections and other statements about future events that are based on current expectations, hopes, beliefs, intentions, strategies and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release the price of Complete Solar’s securities may be volatile due to a variety of factors, including changes in the applicable competitive or regulatory landscapes, variations in operating performance across competitors, changes in laws and regulations affecting Complete Solar’s business, and changes in the combined capital structure; the ability to implement business plans, forecasts, and the evolution of the markets in which Complete Solar will compete.

Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Complete Solar assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

For investor inquiries, please contact:

Complete Solar, Inc.
Sioban Hickie
Phone: +1 (801) 477-5847
InvestorRelations@CompleteSolar.com

Source: Complete Solar, Inc.

FAQ

Who is Dan Myers and what is his new role at Complete Solar (CSLR)?

Dan Myers is a solar industry veteran appointed as Executive Vice President of Complete Solar's New Homes Division. He will report to CEO T.J. Rodgers and manage the division supporting builders of new residential communities.

What experience does Dan Myers bring to Complete Solar (CSLR)?

Dan Myers has a decade of experience in the solar industry, including leadership positions at major residential installers like Vivint Solar and Sunrun. He is also a supply chain expert and has consulted for Fortune 100 solar developers.

How is Complete Solar (CSLR) addressing the SunPower bankruptcy situation?

Complete Solar is offering immediate support for legacy SunPower community projects for a year while developing long-term solutions with new builder partners, leveraging Dan Myers' expertise to navigate this transition.

What is the significance of Dan Myers' appointment for Complete Solar's (CSLR) New Homes Division?

Myers' supply chain expertise is important for managing the geographically dispersed New Homes Division, which CEO Rodgers describes as resembling a supply chain operation more than the company's other divisions.