Sunnova Announces Appointment of Two Independent Directors
Sunnova Energy (NYSE: NOVA) has announced significant changes to its Board of Directors, effective April 11, 2025. The company appointed Tony Horton and Jeffrey S. Stein as independent Class I directors, while Mary Yang and Akbar Mohamad have stepped down from their roles.
The new appointments bring strategic expertise in capital structure and transformation. Horton, CEO of AR Horton Advisors, brings over 25 years of energy and technology experience. Stein, Founder of Stein Advisors , contributes 30+ years of investment and financial services expertise.
A new Special Committee has been formed, comprising Horton and Stein, to evaluate the company's capital structure, financial condition, and strategic alternatives. CEO Paul Mathews has been reappointed as a Class III Director to maintain balanced board membership.
Sunnova Energy (NYSE: NOVA) ha annunciato importanti cambiamenti nel suo Consiglio di Amministrazione, a partire dall'11 aprile 2025. L'azienda ha nominato Tony Horton e Jeffrey S. Stein come direttori indipendenti di Classe I, mentre Mary Yang e Akbar Mohamad hanno lasciato i loro ruoli.
Le nuove nomine portano competenze strategiche nella struttura del capitale e nella trasformazione. Horton, CEO di AR Horton Advisors, vanta oltre 25 anni di esperienza nei settori dell'energia e della tecnologia. Stein, Fondatore di Stein Advisors, contribuisce con oltre 30 anni di esperienza nei servizi finanziari e negli investimenti.
È stato formato un nuovo Comitato Speciale, composto da Horton e Stein, per valutare la struttura del capitale dell'azienda, la condizione finanziaria e le alternative strategiche. Il CEO Paul Mathews è stato riconfermato come Direttore di Classe III per mantenere un equilibrio nel consiglio.
Sunnova Energy (NYSE: NOVA) ha anunciado cambios significativos en su Junta Directiva, que entrarán en vigor el 11 de abril de 2025. La compañía ha nombrado a Tony Horton y Jeffrey S. Stein como directores independientes de Clase I, mientras que Mary Yang y Akbar Mohamad han dejado sus cargos.
Los nuevos nombramientos aportan experiencia estratégica en la estructura de capital y transformación. Horton, CEO de AR Horton Advisors, cuenta con más de 25 años de experiencia en energía y tecnología. Stein, fundador de Stein Advisors, suma más de 30 años de experiencia en servicios financieros e inversión.
Se ha formado un nuevo Comité Especial, compuesto por Horton y Stein, para evaluar la estructura de capital, la condición financiera y las alternativas estratégicas de la empresa. El CEO Paul Mathews ha sido reelecto como Director de Clase III para mantener un equilibrio en la junta.
썬노바 에너지 (NYSE: NOVA)는 2025년 4월 11일부터 시행되는 이사회에 대한 중요한 변화를 발표했습니다. 이 회사는 토니 호턴과 제프리 S. 스타인을 독립적인 1급 이사로 임명했으며, 메리 양과 아크바르 모하마드는 그들의 직책에서 물러났습니다.
새로운 임명은 자본 구조 및 변혁에 대한 전략적 전문성을 제공합니다. AR 호턴 어드바이저스의 CEO인 호턴은 에너지 및 기술 분야에서 25년 이상의 경험을 가지고 있습니다. 스타인은 스타인 어드바이저스의 창립자로서 30년 이상의 투자 및 금융 서비스 전문성을 제공합니다.
회사의 자본 구조, 재무 상태 및 전략적 대안을 평가하기 위해 호턴과 스타인으로 구성된 새로운 특별위원회가 구성되었습니다. CEO인 폴 매튜스는 이사회의 균형을 유지하기 위해 3급 이사로 재임명되었습니다.
Sunnova Energy (NYSE: NOVA) a annoncé des changements significatifs au sein de son Conseil d'Administration, effectifs à partir du 11 avril 2025. L'entreprise a nommé Tony Horton et Jeffrey S. Stein en tant que directeurs indépendants de la Classe I, tandis que Mary Yang et Akbar Mohamad ont quitté leurs fonctions.
Ces nouvelles nominations apportent une expertise stratégique en matière de structure de capital et de transformation. Horton, PDG d'AR Horton Advisors, possède plus de 25 ans d'expérience dans les secteurs de l'énergie et de la technologie. Stein, fondateur de Stein Advisors, apporte plus de 30 ans d'expertise dans les services financiers et l'investissement.
Un nouveau Comité Spécial a été formé, composé de Horton et Stein, pour évaluer la structure de capital de l'entreprise, sa condition financière et les alternatives stratégiques. Le PDG Paul Mathews a été réélu en tant que Directeur de Classe III pour maintenir un équilibre au sein du conseil.
Sunnova Energy (NYSE: NOVA) hat bedeutende Veränderungen im Vorstand bekannt gegeben, die am 11. April 2025 wirksam werden. Das Unternehmen hat Tony Horton und Jeffrey S. Stein als unabhängige Direktoren der Klasse I ernannt, während Mary Yang und Akbar Mohamad von ihren Positionen zurückgetreten sind.
Die neuen Ernennungen bringen strategische Expertise in Bezug auf die Kapitalstruktur und Transformation mit sich. Horton, CEO von AR Horton Advisors, verfügt über mehr als 25 Jahre Erfahrung in den Bereichen Energie und Technologie. Stein, Gründer von Stein Advisors, bringt über 30 Jahre Erfahrung im Bereich Investment und Finanzdienstleistungen ein.
Ein neuer Sonderausschuss wurde gebildet, bestehend aus Horton und Stein, um die Kapitalstruktur, die finanzielle Lage und strategische Alternativen des Unternehmens zu bewerten. CEO Paul Mathews wurde erneut als Direktor der Klasse III ernannt, um ein ausgewogenes Vorstandsgremium zu gewährleisten.
- Appointment of directors with extensive restructuring and turnaround expertise
- Formation of Special Committee to address capital structure challenges
- Enhanced board expertise in financial and strategic matters
- Signs of potential financial distress requiring restructuring expertise
- Board restructuring suggests serious capital structure concerns
- Departure of two existing board members indicates significant organizational changes
Tony Horton and Jeffrey S. Stein Join Sunnova Board as Independent Directors
Establishes Special Committee to Support Ongoing Capital Structure Initiatives
Mr. Horton and Mr. Stein bring deep experience guiding companies through value maximizing capital structure transactions and periods of transformation. Their appointments underscore Sunnova’s commitment to strong governance and enhancing the expertise of its Board.
Mr. Horton brings extensive financial and business leadership expertise to the Board, having served in senior leadership and director roles across a range of public and private companies. He currently serves as Chief Executive Officer of AR Horton Advisors, Lead Independent Director for Team, Inc., and Independent Director for both Equiniti Trust Company and Talen Energy Corporation. With more than 25 years of energy and technology experience, including senior leadership roles at Energy Future Holdings Corporation and TXU Energy, Mr. Horton offers deep strategic insights and has a strong track record of guiding companies through turnarounds and restructuring matters.
Mr. Stein brings more than 30 years of investment and financial services expertise to the Board, along with extensive experience as a corporate executive and director of both public and private companies. He is the Founder and Managing Partner of Stein Advisors LLC, a financial advisory firm serving public and private companies and institutional investors. Mr. Stein currently serves as Chairman of the Board of Directors of Ambac Financial Group, Inc. With deep experience in both debt and equity markets, particularly in distressed and special situations, Mr. Stein brings valuable financial insight and a proven ability to navigate complex situations.
In connection with these appointments, Sunnova has formed a Special Committee of the Board, consisting of Mr. Horton and Mr. Stein. The Special Committee will be responsible for evaluating the Company’s capital structure and financial condition and assessing and negotiating transactions and/or other strategic alternatives for the Company and its stakeholders. In addition to serving on the Special Committee, Mr. Horton will serve as a member of the Audit Committee and the Compensation and Human Capital Committee and Mr. Stein will serve as a member of the Audit Committee and the Nominating, Corporate Governance and Sustainability Committee.
Mary Yang and Akbar Mohamad have stepped down from their roles on the Company’s Board, effective April 11, 2025, and April 7, 2025, respectively. Sunnova is grateful for their contributions during their tenure and wishes them continued success in their future endeavors.
Additionally, in accordance with the Company’s governing documents and to establish an equal balance of membership among the classes of directors, Chief Executive Officer Paul Mathews has been reappointed to the Board as a Class III Director, transitioning from his prior role as a Class I Director. Mr. Mathews’s service on the board continues uninterrupted and he continues to lead Sunnova’s financial and operational strategies as CEO.
These governance changes reflect the Board's commitment to taking proactive steps to support ongoing capital structure discussions with its key financial partners. Sunnova remains focused on stabilizing the Company's financial foundation and positioning the business for long-term success.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence™. For more information, visit http://www.sunnova.com.
Forward Looking Statements
This press release contains certain 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. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s ability to successfully execute its business and financial strategies. All statements, other than statements of historical fact, are forward-looking statements. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risks and other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q. These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
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Sunnova Media Contact
Russell Wilkerson
203-581-2114
russell.wilkerson@sunnova.com
Sunnova Investor Contact
877-770-5211
IR@sunnova.com
Source: Sunnova Energy International Inc.
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