Pineapple Energy Welcomes Spring Hollis as Board Member as Transformative Era Continues
Pineapple Energy Inc. (Nasdaq: PEGY) has appointed Spring Hollis as an independent member of its Board of Directors. Ms. Hollis brings over 25 years of experience in finance and operations, with a focus on supporting early-stage growth companies. This appointment is part of Pineapple's ongoing initiative to reshape its executive team and Board composition.
The company has recently undertaken several initiatives to address long-term market opportunities, including improving corporate governance, restructuring operations, and addressing its capital structure. Pineapple expects marked improvement in the second half of 2024, particularly in its commercial business, and anticipates that restructuring efforts will lead to operating efficiencies complementing top-line growth.
Pineapple Energy Inc. (Nasdaq: PEGY) ha nominato Spring Hollis come membro indipendente del proprio Consiglio di Amministrazione. La signora Hollis porta con sé oltre 25 anni di esperienza in finanza e operazioni, con un focus sul supporto delle aziende in fase di crescita. Questa nomina fa parte dell'iniziativa in corso di Pineapple per riorganizzare il proprio team esecutivo e la composizione del Consiglio.
L'azienda ha recentemente intrapreso diverse iniziative per affrontare le opportunità di mercato a lungo termine, tra cui il miglioramento della governance aziendale, la ristrutturazione delle operazioni e la gestione della propria struttura di capitale. Pineapple prevede un miglioramento significativo nella seconda metà del 2024, in particolare nel proprio business commerciale, e si aspetta che gli sforzi di ristrutturazione portino a efficienze operative a complemento della crescita del fatturato.
Pineapple Energy Inc. (Nasdaq: PEGY) ha nombrado a Spring Hollis como miembro independiente de su Junta Directiva. La Sra. Hollis aporta más de 25 años de experiencia en finanzas y operaciones, centrándose en apoyar a empresas en etapas iniciales de crecimiento. Este nombramiento es parte de la iniciativa continua de Pineapple para reestructurar su equipo ejecutivo y la composición de la Junta.
La empresa ha llevado a cabo recientemente varias iniciativas para abordar oportunidades de mercado a largo plazo, incluidas la mejora de la gobernanza corporativa, la reestructuración de las operaciones y la gestión de su estructura de capital. Pineapple espera una mejora notable en la segunda mitad de 2024, particularmente en su negocio comercial, y anticipa que los esfuerzos de reestructuración llevarán a eficiencias operativas que complementen el crecimiento de los ingresos.
Pineapple Energy Inc. (Nasdaq: PEGY)가 Spring Hollis를 독립 이사로 임명했습니다. Hollis 씨는 스타트업 성장 기업을 지원하는 데 중점을 두고 금융 및 운영 분야에서 25년 이상의 경험을 가지고 있습니다. 이번 임명은 Pineapple의 경영진과 이사회 구성을 재편성하기 위한 지속적인 노력의 일환입니다.
회사는 최근 기업 거버넌스 개선, 운영 재구성 및 자본 구조 문제 해결을 포함한 여러 가지 이니셔티브를 통해 장기 시장 기회를 모색하고 있습니다. Pineapple은 2024년 하반기에 상업 비즈니스에서 특히 눈에 띄는 개선이 있을 것으로 예상하며, 재구성 노력이 매출 성장과 함께 운영 효율성을 가져올 것이라고 기대하고 있습니다.
Pineapple Energy Inc. (Nasdaq: PEGY) a nommé Spring Hollis en tant que membre indépendant de son conseil d'administration. Mme Hollis apporte plus de 25 ans d'expérience en finance et en opérations, avec un accent sur le soutien aux entreprises en phase de croissance. Cette nomination fait partie de l'initiative continue de Pineapple pour remodeler son équipe exécutive et la composition du conseil.
La société a récemment entrepris plusieurs initiatives pour saisir les opportunités de marché à long terme, notamment l'amélioration de la gouvernance d'entreprise, la restructuration des opérations et l'optimisation de sa structure de capital. Pineapple s'attend à une amélioration marquée au cours de la seconde moitié de 2024, en particulier dans son activité commerciale, et prévoit que les efforts de restructuration conduiront à des gains d'efficacité opérationnelle complétant la croissance du chiffre d'affaires.
Pineapple Energy Inc. (Nasdaq: PEGY) hat Spring Hollis als unabhängiges Mitglied seines Vorstands ernannt. Frau Hollis bringt über 25 Jahre Erfahrung in den Bereichen Finanzen und Betriebsführung mit, mit dem Schwerpunkt auf der Unterstützung von wachstumsstarken Unternehmen in der Frühphase. Diese Ernennung ist Teil von Pineapples laufender Initiative zur Umgestaltung seines Führungsteams und der Zusammensetzung des Vorstands.
Das Unternehmen hat kürzlich mehrere Maßnahmen ergriffen, um langfristige Marktchancen zu nutzen, dazu gehören die Verbesserung der Unternehmensführung, die Umstrukturierung der Abläufe und die Optimierung der Kapitalstruktur. Pineapple erwartet in der zweiten Hälfte des Jahres 2024 eine deutliche Verbesserung, insbesondere im kommerziellen Geschäft, und geht davon aus, dass die Umstrukturierungsmaßnahmen zu betrieblichen Effizienzen führen, die das Umsatzwachstum unterstützen.
- Appointment of Spring Hollis, an experienced financial executive, to the Board of Directors
- Ongoing initiatives to reshape executive team and Board composition
- Expected improvement in commercial business for the second half of 2024
- Anticipated operating efficiencies from restructuring efforts
- Recent resignations of two Board members, Tom Holland and Scott Honor
- Elimination of Minnesota-based corporate operations as part of restructuring
RONKONKOMA, N.Y., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Pineapple Energy Inc. (Nasdaq: PEGY (Pineapple Energy) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced the appointment of Spring Hollis as an independent member of the Company’s Board of Directors.
Ms. Hollis is an accomplished financial executive with more than 25 years of experience in finance and operations, focusing on supporting companies early in their growth cycles. She is Founder of Star Strong Capital, a private credit asset manager providing debt financing solutions to lower middle market companies. Her previous experience includes serving as Managing Director at Deutsche Bank, Park Cities Asset Management as a specialty finance Portfolio Manager, and Founding Partner at Briargate Capital. Ms. Hollis received her J.D. from New York University School of Law and B.A. from University of Wisconsin-Madison.
“Ms. Hollis possesses deep capital markets knowledge and know-how, and we are very excited to welcome her to Pineapple,” said Scott Maskin, Interim CEO. “Her appointment is part of a larger, ongoing initiative to re-shape the Company’s executive team and Board composition to add experience that complements and enhances our internal capabilities and supports the Company's long-term growth initiatives.”
Mr. Maskin noted that within the past four months, Pineapple has undertaken a series of initiatives to position the Company to address significant long-term market opportunities. These include elevating corporate governance, restructuring and reorganizing various aspects of its operations, eliminating its Minnesota-based corporate operations, and addressing its capital structure.
He continued, “We remain confident that the second half of the year, notably on the commercial side of the business, will show marked improvement when compared to the first six months of 2024. We also believe that over time our restructuring efforts will result in operating efficiencies that complement our anticipated top line growth.”
“To join Pineapple at this time is just so exciting,” said Ms. Hollis. “The Company has experienced rapid evolution these past few months, and I look forward to working alongside my new peers to ensure that these transitions are smooth, and that the opportunities for change keep coming.”
The appointment of Ms. Hollis follows the previously disclosed resignations of Tom Holland and Scott Honor from their respective roles on the Board of Directors.
“I want to sincerely thank both Mr. Holland and Mr. Honor for all the hard work they had put into Pineapple Energy in their Board roles over the years,” said Mr. Maskin. “With the appointment of Ms. Hollis, we once again have a key player in place as we enter an exciting and transformative new era.”
About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation Energy, Hawaii Energy Connection, E-Gear) provide those within the Residential and Commercial sectors an end-to-end product offering spanning solar, battery storage, and grid services.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth, and future opportunities. These statements are based on Pineapple Energy’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties, set forth in the company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release. Pineapple Energy does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Contacts:
Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
SMaskin@sunation.com
Pineapple Investor Relations
IR@pineappleenergy.com
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