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Hannon Armstrong Appoints Former EXIM Chairman Kimberly A. Reed and CEO Jeffrey A. Lipson to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) announced the appointment of Kimberly A. Reed and Jeffrey A. Lipson to its Board of Directors effective March 1, 2023. With this change, the Board now comprises 11 members, 9 being independent. Reed, a former chairman and CEO of the U.S. Export-Import Bank, will add valuable regulatory insight and financial expertise. Lipson, who previously served as COO and CFO, assumes the CEO role, marking a leadership transition for HASI, which manages over $9 billion in assets focused on climate solutions.
Positive
Appointment of Kimberly A. Reed brings significant regulatory experience to the Board.
Jeffrey A. Lipson's promotion to CEO may enhance company continuity and leadership.
Negative
Concerns about continuity with the leadership change as new dynamics emerge.
ANNAPOLIS, Md.--(BUSINESS WIRE)--
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or “HASI”) (NYSE: HASI), a leading investor in climate solutions, today announced the appointment of Kimberly A. Reed and Jeffrey A. Lipson to its Board of Directors, effective March 1, 2023.
Kimberly A. Reed (Photo: Business Wire)
In connection with these elections, the Board of Directors will consist of 11 members, 9 of whom are independent members. The Board appointed Ms. Reed to serve as a member of the Audit Committee and the Finance and Risk Committee.
“We are delighted to add Kimberly Reed’s talent and perspective to our Board as HASI continues to grow in ambition and scale,” said Jeffrey W. Eckel, HASI Executive Chair. “Kimberly’s demonstrated leadership in resurrecting and running the U.S. Export-Import Bank adds important government and regulatory experience and global connectivity to our Board, as well as another seasoned financial services voice.”
Ms. Reed said, “Hannon Armstrong Sustainable Infrastructure Capital, Inc.— the very first U.S. public company to focus solely on investments in energy efficiency, renewable energy, and other sustainable infrastructure markets and now with more than $9 billion in managed assets — plays a unique and pivotal role in the renewables firmament. HASI is led by a team that collectively brings unparalleled longevity in this rapidly evolving space, and I am confident that my experience leading major public agencies and engaging with diverse businesses across the United States will complement this superior team and the company’s already substantive Board of Directors.”
Ms. Reed currently serves on the Board of Directors of Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK) and Momentus Inc. (NASDAQ: MNTS) and is a distinguished fellow with the Council on Competitiveness.
Ms. Reed served as the first woman chairman of the Board of Directors, president and chief executive officer of the Export-Import Bank of the United States (EXIM) — the nation’s official $135 billion export credit agency — from 2019 to 2021 after being confirmed by the U.S. Senate with overwhelming bipartisan support. As EXIM chairman, she worked to help U.S. companies — including those in the renewable and clean energy and transformational technology sectors —succeed in the competitive global marketplace. Earlier in her career, Ms. Reed was president of the International Food Information Council Foundation, where she worked with multi-national food and agribusiness companies on nutrition, health, and sustainability issues; senior advisor to U.S. Treasury Secretaries Henry Paulson and John Snow; chief executive officer of the Community Development Financial Institutions Fund (CDFI Fund); and counsel to three committees of the U.S. Congress, where she conducted oversight and investigations.
She also currently serves on the American Swiss Foundation Board of Directors, Hudson Institute'sAlexander Hamilton Commission on Securing America's National Security Innovation Base, Krach Institute for Tech Diplomacy at Purdue Advisory Council and Indiana University School of Public Health-Bloomington Dean's Alliance.
Recognized as one of the “100 Women Leaders in STEM,” Ms. Reed received the U.S. Department of Defense’s highest civilian award — the Medal for Distinguished Public Service — and is a Council on Foreign Relations life member and National Association of Corporate Directors (NACD) Certified Director. She holds a Juris Doctor from West Virginia University College of Law and a Bachelor of Science in biology and a Bachelor of Arts in government from West Virginia Wesleyan College.
“We also welcome our new CEO, Jeff Lipson, on the Board,” Mr. Eckel added. As previously announced, Jeffrey A. Lipson has transitioned to the role of president and chief executive officer of HASI effective today. Mr. Lipson served as both chief operating officer and chief financial officer of HASI from January 2021 to February 2023, and chief financial officer from January 2019 to December 2020.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to assets developed by leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $9 billion in managed assets, our core purpose is to make climate positive investments with superior risk-adjusted returns. For more information, please visit hannonarmstrong.com or follow us on Twitter and LinkedIn.
Forward-Looking Statements
Some of the information contained in this press release is forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are subject to risks and uncertainties. For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, we intend to identify forward-looking statements.
Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in our most recent Annual Report on Form 10-K as well as in other periodic reports that we file with the U.S. Securities and Exchange Commission
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
