Shoals Technologies Group Appoints Chief Operations Officer and Interim Chief Legal Officer

Rhea-AI Summary

Shoals Technologies Group, a global leader in electrical balance of system (EBOS) solutions for the energy transition market, has announced two key appointments to strengthen its executive team. Kirsten Moen has been named Chief Operations Officer, bringing extensive experience from organizations like Eaton and Stanley Black & Decker. Moen's expertise in lean manufacturing and process optimization is expected to enhance Shoals' position in the renewable energy industry.

Additionally, Chad Warpula has been appointed as interim Chief Legal Officer. Warpula, a corporate partner at Troutman Pepper, brings a wealth of experience in corporate law, securities, M&A, and governance. These appointments are aimed at driving operational excellence and positioning Shoals to execute its strategy effectively in the evolving energy market.

Positive

• Appointment of experienced Chief Operations Officer with expertise in lean manufacturing and process optimization
• Addition of interim Chief Legal Officer with extensive corporate law experience
• Strengthening of executive team to drive operational excellence

Negative

• None.

News Market Reaction – SHLS

-3.77%

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-3.77% News Effect

On the day this news was published, SHLS declined 3.77%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Appointments Expand Executive Team to Drive Operational Excellence

PORTLAND, Tenn., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals”), a global leader in electrical balance of system (“EBOS”) solutions for the energy transition market, announced today that it has further strengthened its executive team with two new additions to drive operational excellence.

Kirsten Moen, newly appointed Chief Operations Officer, is an accomplished operations and manufacturing executive with extensive experience in leading organizations such as Eaton and Stanley Black & Decker. Her established track record of driving lean manufacturing, optimizing manufacturing processes, and delivering measurable results will further position Shoals as a leader in the renewable energy industry.

“It has been exciting to be able to draw so much talent to Shoals and Kirsten is no exception,” says Brandon Moss, CEO of Shoals. “Throughout her career, Kirsten has consistently streamlined operations, improved efficiency, and enhanced product quality. Her leadership style fosters collaboration, continuous improvement, and talent development, empowering teams to achieve peak performance. We look forward to Kirsten’s leadership and the positive impact she will bring to our organization.”

Rounding out the executive team expansion is Chad Warpula, who was appointed as interim Chief Legal Officer. Chad is a corporate partner at Troutman Pepper where he represents clients in a wide variety of complex matters, including corporate, securities, M&A, governance, joint ventures, compliance and intellectual property. For more than a decade throughout this career, Chad has served as full-time and interim general counsel for public and private companies and a strategic in-house advisor to management teams and boards of directors.

With these critical leadership roles filled, Shoals is well positioned to continue to execute against its strategy.

About Shoals Technologies Group, Inc.

Shoals Technologies Group is a leading provider of electrical balance of systems (“EBOS”) solutions for the energy transition market. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group is a recognized leader in the renewable energy industry. For additional information, please visit: https://www.shoals.com.

Forward-Looking Statements.

This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning the potential contributions of the new Chief Operations Officer and the new Interim Chief Legal Officer, our possible or assumed future results of operations, business strategies, technology developments, and potential growth opportunities. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, among others: if we fail to retain our key personnel and attract additional qualified personnel, our business strategy and prospects could suffer, and other risks and uncertainties described in the Company’s most recent Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Media Relations

Lindsey Williams, VP of Marketing
Lindsey.williams@shoals.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5027f67c-28e4-479b-9483-afbd21ed7e9d

FAQ

Who are the new executives appointed by Shoals Technologies Group (SHLS)?

Shoals Technologies Group (SHLS) has appointed Kirsten Moen as Chief Operations Officer and Chad Warpula as interim Chief Legal Officer.

What is Kirsten Moen's background and role at Shoals Technologies Group (SHLS)?

Kirsten Moen, the new Chief Operations Officer at Shoals Technologies Group (SHLS), has extensive experience in operations and manufacturing from companies like Eaton and Stanley Black & Decker. She specializes in lean manufacturing and process optimization.

What experience does Chad Warpula bring to Shoals Technologies Group (SHLS)?

Chad Warpula, appointed as interim Chief Legal Officer at Shoals Technologies Group (SHLS), is a corporate partner at Troutman Pepper with extensive experience in corporate law, securities, M&A, governance, and has served as general counsel for various companies.

How do these appointments align with Shoals Technologies Group's (SHLS) strategy?

These appointments are aimed at strengthening Shoals Technologies Group's (SHLS) executive team to drive operational excellence and better position the company to execute its strategy in the renewable energy market.