SolarEdge Announces Leadership Transition Plan
SolarEdge Technologies, Inc. (NASDAQ: SEDG) announced a significant leadership transition. Zvi Lando has stepped down as CEO but will remain on the Board of Directors and serve as an advisor to the management team. The company has initiated a search for a new CEO with the support of a global executive search firm.
In the interim, Ronen Faier, previously Chief Financial Officer, has been appointed as Interim CEO. As part of the company's previously announced CFO succession plan, Ariel Porat, formerly Senior VP of Finance, has been appointed as the new Chief Financial Officer.
The changes are effective immediately. The company's Board of Directors expressed gratitude for Lando's contributions over his 15-year tenure, including 5 years as CEO. Faier acknowledged the challenges ahead, stating that 'The road to a full recovery of SolarEdge is still ahead of us.'
SolarEdge Technologies, Inc. (NASDAQ: SEDG) ha annunciato una significativa transizione nel leadership. Zvi Lando si è dimesso da CEO ma rimarrà nel Consiglio di Amministrazione e fungerà da consulente per il team di gestione. L'azienda ha avviato una ricerca per un nuovo CEO con il supporto di una società di ricerca esecutiva globale.
Nel frattempo, Ronen Faier, precedentemente Direttore Finanziario, è stato nominato CEO ad interim. Come parte del piano di successione del CFO già annunciato, Ariel Porat, ex VP Senior delle Finanze, è stato nominato nuovo Direttore Finanziario.
Le modifiche sono efficaci immediatamente. Il Consiglio di Amministrazione dell'azienda ha espresso gratitudine per i contributi di Lando nel suo mandato di 15 anni, incluso 5 anni come CEO. Faier ha riconosciuto le sfide future, affermando che 'La strada per una piena ripresa di SolarEdge è ancora davanti a noi.'
SolarEdge Technologies, Inc. (NASDAQ: SEDG) anunció una transición de liderazgo significativa. Zvi Lando renunció como CEO, pero permanecerá en la Junta Directiva y servirá como asesor para el equipo de gestión. La empresa ha iniciado una búsqueda de un nuevo CEO con el apoyo de una firma global de búsqueda ejecutiva.
Mientras tanto, Ronen Faier, anteriormente Director Financiero, ha sido designado CEO interino. Como parte del plan de sucesión del CFO ya anunciado, Ariel Porat, ex VP Senior de Finanzas, ha sido nombrado como el nuevo Director Financiero.
Los cambios son efectivos de inmediato. La Junta Directiva de la compañía expresó su agradecimiento por las contribuciones de Lando durante sus 15 años de mandato, incluidos 5 años como CEO. Faier reconoció los desafíos que se avecinan, declarando que 'El camino hacia una plena recuperación de SolarEdge aún está por delante de nosotros.'
SolarEdge Technologies, Inc. (NASDAQ: SEDG)는 중요한 리더십 전환을 발표했습니다. Zvi Lando가 CEO에서 물러났지만 이사회에 남아 경영팀의 고문 역할을 계속 할 것입니다. 회사는 글로벌 임원 검색 회사를 지원하여 새로운 CEO를 찾기 시작했습니다.
그 사이에, Ronen Faier, 이전 CFO가 임시 CEO로 임명되었습니다. 회사가 이전에 발표한 CFO 승계 계획의 일환으로 Ariel Porat, 이전 재무 수석 부사장이 새로운 CFO로 임명되었습니다.
변경 사항은 즉시 효력이 발생합니다. 회사 이사회는 Lando의 15년 임기 동안의 기여에 감사의 뜻을 전했습니다. Faier는 'SolarEdge의 완전한 회복을 위한 길은 여전히 우리 앞에 있다'고 말하며 향후 도전 과제를 인정했습니다.'
SolarEdge Technologies, Inc. (NASDAQ: SEDG) a annoncé une transition de leadership significative. Zvi Lando a démissionné en tant que PDG mais restera au Conseil d'Administration et servira de conseiller pour l'équipe de direction. L'entreprise a lancé une recherche pour un nouveau PDG avec le soutien d'une société mondiale de recherche exécutive.
En attendant, Ronen Faier, ancien Directeur Financier, a été nommé PDG par intérim. Dans le cadre du plan de succession de CFO précédemment annoncé, Ariel Porat, ancien Vice-Président Senior des Finances, a été nommé nouveau Directeur Financier.
Les changements prennent effet immédiatement. Le Conseil d'Administration de l'entreprise a exprimé sa gratitude pour les contributions de Lando au cours de ses 15 années de mandat, dont 5 ans en tant que PDG. Faier a reconnu les défis à venir, en déclarant que 'La route vers une pleine récupération de SolarEdge est encore devant nous.'
SolarEdge Technologies, Inc. (NASDAQ: SEDG) hat einen signifikanten Führungswechsel angekündigt. Zvi Lando ist als CEO zurückgetreten, wird jedoch im Vorstand bleiben und das Management-Team beraten. Das Unternehmen hat mit Unterstützung einer globalen Personalberatung die Suche nach einem neuen CEO aufgenommen.
Zwischenzeitlich wurde Ronen Faier, der zuvor CFO war, als Interims-CEO ernannt. Im Rahmen des bereits angekündigten Nachfolgeplans für den CFO wurde Ariel Porat, ehemaliger Senior VP Finance, als neuer Chief Financial Officer ernannt.
Die Änderungen treten sofort in Kraft. Der Vorstand des Unternehmens sprach seine Dankbarkeit für Landos Beiträge während seiner 15-jährigen Amtszeit aus, einschließlich 5 Jahren als CEO. Faier erkannte die bevorstehenden Herausforderungen an und erklärte: 'Der Weg zur vollständigen Erholung von SolarEdge liegt noch vor uns.'
- Smooth leadership transition with interim CEO appointed from within the company
- Retention of former CEO on the Board and as an advisor ensures continuity
- Implementation of previously planned CFO succession demonstrates preparedness
- Unexpected CEO departure may signal underlying challenges
- Admission of need for 'full recovery' suggests ongoing difficulties
- Potential disruption to company strategy during leadership search
Zvi Lando steps down as CEO, and Company initiates a search for new CEO
Ronen Faier, previously Chief Financial Officer, appointed Interim CEO
Ariel Porat, Senior VP Finance, appointed CFO as part of the Company’s previously announced CFO Succession Plan
In conjunction with this transition and as part of the Company’s CFO transition plan, the Board of Directors has appointed Ariel Porat, formerly the Company’s Senior Vice President of Finance, to serve as Chief Financial Officer, effective today.
“On behalf of the Board, we are incredibly grateful for Zivi’s contributions as CEO over the past 5 years and for the 10 years prior as VP Global Sales,” said Nadav Zafrir, Chairman of the Board of Directors. “Zivi was instrumental in SolarEdge's growth into a world-class, global smart energy technology company. We are pleased that Zivi will remain a Board member and special advisor to the Company.”
“Following many years of service as the Company’s CFO, I am honored to lead SolarEdge in this transition period,” said Ronen Faier. “I would also like to thank Zivi, on behalf of SolarEdge and its employees, for his countless contributions, years of leadership, dedication, and friendship.”
“The road to a full recovery of SolarEdge is still ahead of us and to drive this recovery at a fast pace requires new energy and leadership,” said Lando. “As such, I have decided to resign from my position as CEO. I am confident the focus areas we have defined and the trajectory we are on will continue the improvement trend.”
About Ronen Faier
Mr. Ronen Faier joined SolarEdge in 2011 as our Chief Financial Officer and served as the General Manager of the SolarEdge Storage Division between 2019 and 2023. Prior to joining SolarEdge, Mr. Faier served from 2008 to 2010 as the Chief Financial Officer of modu Ltd, a privately owned Israeli company. Between 2004 and 2007, Mr. Faier held several senior finance positions, including Chief Financial Officer at Msystems prior to its acquisition by SanDisk Corporation in 2006.
Mr. Faier also serves as a member of the board at Monday.com and at Kaltura, Inc. He holds a CPA (
About Ariel Porat
Mr. Ariel Porat has more than a decade of leadership and finance experience in various industries and global corporations. Prior to joining SolarEdge as SVP Finance, he was Head of
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information, among other things, concerning: management transitions, our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory environment; general economic conditions; potential growth opportunities; and the effects of competition. These forward-looking statements are often characterized by the use of words such as "anticipate," "believe," "could," "seek," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or similar expressions and the negative or plural of those terms and other like terminology.
Forward-looking statements are only predictions based on our current expectations and our projections about future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Given these factors, you should not place undue reliance on these forward-looking statements. These factors include, but are not limited to, the matters discussed in the section entitled "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 26, 2024 and our quarterly reports filed on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC. All information set forth in this release is as of August 26, 2024. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
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SolarEdge Press Contact:
Lily Salkin
Senior Manager Global PR
Lily.salkin@solaredge.com
SolarEdge Investor Contact
JB Lowe
Head of Investor Relations
investors@solaredge.com
Source: SolarEdge Technologies, Inc.
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