Hyliion Appoints Sherri Baker as Chief Financial Officer

Rhea-AI Summary

Hyliion Holdings Corp (NYSE: HYLN) announced that Sherri Baker will become the new Chief Financial Officer effective February 8, 2021, succeeding Greg Van de Vere, who retires after nearly four years. Baker brings extensive experience in financial leadership, having previously served as CFO at PGT Innovations and held various roles at Dean Foods and Frito-Lay. Baker's appointment comes as Hyliion accelerates its commercialization strategy and aims to leverage her expertise to drive profitable growth and enhance shareholder value.

Positive

• Sherri Baker's extensive financial leadership experience may strengthen Hyliion’s financial strategy.
• Baker's proven track record in driving profitable business growth is poised to benefit the company's commercialization efforts.

Negative

• Transitioning to a new CFO may create temporary uncertainty in financial operations.

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 commercial vehicles, today announced Sherri Baker will join the company as Chief Financial Officer, effective February 8, 2021. Baker will succeed Greg Van de Vere, who will retire after serving nearly four years with Hyliion.

(Photo: Business Wire)

“I want to thank Greg for his dedication and immense contributions to Hyliion since early in the company’s founding,” said Thomas Healy, founder and CEO of Hyliion. “Greg has been critical in shaping our business, from startup to public company, and has established a strong foundation for our future success. We wish him all the best in his retirement.”

“Sherri joins Hyliion at a truly exciting time for the company as we accelerate our commercialization strategy and scale the business. With extensive experience in senior financial leadership roles, Sherri has a proven track record of helping to drive profitable business growth and will play a critical role in Hyliion’s success,” Healy added.

In the role, Baker will oversee Hyliion’s financial operations and strategy, including financial planning and analysis, accounting, treasury, tax and investor relations. Baker has nearly two decades of finance and accounting leadership experience, as well as a strong understanding of investor relations, M&A and manufacturing operations, including go-to-market and engineering functions.

“Hyliion is well-positioned for growth and I am excited to partner not only with the leadership team, but the entire talented organization at such an important time in the company’s evolution,” said Baker. “Drawing on my diverse public company experience, I look forward to helping Hyliion execute its strategic plan, drive its commercial goals and deliver value for stockholders.”

Baker previously served as Senior Vice President and Chief Financial Officer for PGT Innovations, a publicly traded, national leader and advanced manufacturer of premium windows and doors from March 2019 to January 2021. While there, Baker was responsible for the company’s finance strategy, budgeting and planning, accounting, legal, IT, financial reporting, and investor relations functions.

Prior to joining PGT Innovations, Baker served as Vice President, Commercial Finance for Dean Foods Company, the largest dairy subsidiary in the United States, with 2018 revenue of more than $7.7 billion. Earlier, Baker served as Vice President of Investor Relations, Strategy and Corporate Finance, as well as Vice President of Finance, Logistics for Dean Foods. Prior to Dean Foods, she spent 13 years at Frito-Lay, a subsidiary of PepsiCo, in a succession of finance and accounting roles.

Baker holds a Bachelor of Science and Master of Science in Accounting from the University of North Texas.

To learn more about Hyliion, its products or leadership team, please visit www.hyliion.com.

About Hyliion

Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of commercial transportation Class 8 vehicles by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial vehicles, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210112005329/en/

FAQ

Who is the new CFO of Hyliion?

Sherri Baker is the new Chief Financial Officer of Hyliion, effective February 8, 2021.

What experience does Sherri Baker bring to Hyliion?

Sherri Baker has nearly two decades of finance leadership experience, including roles at PGT Innovations and Dean Foods.

Why is Greg Van de Vere retiring from Hyliion?

Greg Van de Vere is retiring after nearly four years of service, having significantly contributed to the company's founding and growth.

What impact could Sherri Baker's appointment have on Hyliion's stock?

Baker's strong financial background is expected to drive growth and potentially enhance shareholder value at Hyliion.