SUNation Energy Names Scott Maskin Chief Executive Officer
SUNation Energy (Nasdaq: SUNE) has appointed Scott Maskin as permanent Chief Executive Officer, effective December 10, 2024. Maskin, who has served as Interim CEO since May 2024, co-founded SUNation Energy in 2003 and brings over 20 years of experience in solar and battery storage industries.
During his interim tenure, Maskin has successfully reduced overhead and operating expenses, improved corporate governance, restructured internal operations, and addressed capital structure weaknesses. Board Chairman Roger H.D. Lacey praised Maskin's industry expertise and leadership, highlighting his background as a master electrician and his understanding of solar installations.
SUNation Energy (Nasdaq: SUNE) ha nominato Scott Maskin come Amministratore Delegato permanente, con effetto dal 10 dicembre 2024. Maskin, che ha ricoperto il ruolo di CEO ad interim da maggio 2024, ha co-fondato SUNation Energy nel 2003 e porta con sé oltre 20 anni di esperienza nei settori dell'energia solare e dello stoccaggio delle batterie.
Durante il suo mandato ad interim, Maskin ha ridotto le spese generali e operative, migliorato la governance aziendale, ristrutturato le operazioni interne e affrontato le debolezze nella struttura dei capitali. Il presidente del consiglio Roger H.D. Lacey ha elogiato l'expertise di Maskin nel settore e le sue capacità di leadership, sottolineando il suo passato come elettricista e la sua comprensione delle installazioni solari.
SUNation Energy (Nasdaq: SUNE) ha nombrado a Scott Maskin como Director Ejecutivo permanente, efectivo a partir del 10 de diciembre de 2024. Maskin, quien ha desempeñado el cargo de CEO interino desde mayo de 2024, co-fundó SUNation Energy en 2003 y trae consigo más de 20 años de experiencia en las industrias de energía solar y almacenamiento de baterías.
Durante su mandato interino, Maskin ha reducido los gastos generales y operativos, mejorado la gobernanza corporativa, reestructurado las operaciones internas y abordado las debilidades en la estructura de capital. El presidente de la junta Roger H.D. Lacey elogió la experiencia y el liderazgo de Maskin en la industria, destacando su formación como electricista maestro y su comprensión de las instalaciones solares.
SUNation Energy (Nasdaq: SUNE)는 Scott Maskin을 2024년 12월 10일부터 발효되는 영구 최고경영자(CEO)로 임명했습니다. Maskin은 2024년 5월부터 임시 CEO로 재직해왔으며, 2003년에 SUNation Energy를 공동 설립하였고 태양광 및 배터리 저장 산업에서 20년 이상의 경험을 가지고 있습니다.
임시 재임 기간 동안, Maskin은 간접비 및 운영비를 줄이고, 기업 거버넌스를 개선하며, 내부 운영을 재구성하고, 자본 구조의 약점을 해결하는 데 성공했습니다. 이사회 의장인 Roger H.D. Lacey는 Maskin의 산업 전문성과 리더십을 칭찬하며, 그의 전기 기사로서의 배경과 태양광 설치에 대한 이해를 강조했습니다.
SUNation Energy (Nasdaq: SUNE) a nommé Scott Maskin comme Directeur Général permanent, prenant effet le 10 décembre 2024. Maskin, qui a été CEO par intérim depuis mai 2024, a cofondé SUNation Energy en 2003 et possède plus de 20 ans d'expérience dans les secteurs de l'énergie solaire et du stockage de batteries.
Au cours de son mandat intérimaire, Maskin a réduit les frais généraux et les dépenses opérationnelles, amélioré la gouvernance d'entreprise, restructuré les opérations internes et abordé les faiblesses de la structure de capital. Le président du conseil, Roger H.D. Lacey, a salué l'expertise et le leadership de Maskin dans l'industrie, mettant en avant son expérience en tant qu'électricien qualifié et sa compréhension des installations solaires.
SUNation Energy (Nasdaq: SUNE) hat Scott Maskin zum permanenten Geschäftsführer ernannt, mit Wirkung zum 10. Dezember 2024. Maskin, der seit Mai 2024 als Interim-CEO fungiert, ist Mitgründer von SUNation Energy und bringt über 20 Jahre Erfahrung in der Solar- und Batteriespeicherindustrie mit.
Während seiner Interim-Tätigkeit hat Maskin erfolgreich die Gemeinkosten und Betriebsausgaben gesenkt, die Unternehmensführung verbessert, interne Abläufe umstrukturiert und Schwächen in der Kapitalstruktur angegangen. Der Vorsitzende des Vorstands, Roger H.D. Lacey, lobte Maskins Fachwissen und Führung, wobei er auf seinen Hintergrund als Meisterelektriker und sein Verständnis für Solarinstallationen hinwies.
- Successfully reduced overhead and operating expenses
- Improved corporate governance and internal operations
- Addressed weaknesses in capital structure
- CEO brings 20+ years of industry experience and technical expertise
- None.
RONKONKOMA, N.Y., Dec. 10, 2024 (GLOBE NEWSWIRE) -- SUNation Energy Inc. (Nasdaq: SUNE) (“SUNation” or the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced that the Board of Directors has determined that its interim CEO, Scott Maskin, has been appointed as the permanent Chief Executive Officer of the Company, effective December 10, 2024. Mr. Maskin has served as Interim CEO since May 2024.
Mr. Maskin has more than 20 years of experience in the residential and commercial solar, battery storage, and photovoltaic service industries. He co-founded SUNation Energy in 2003, and is known for his commitment to the customer experience and for being a leader in the energy renewables field.
“Scott has time and time again proven himself to be a driving force in the renewables business, and the board was confident to have Scott to assume the role as SUNation Energy Inc.’s CEO on a permanent basis,” Roger H.D. Lacey, the Chairman of the Board of Directors for SUNation Energy, Inc., said.
“Scott is, and continues to be, a pioneer in the solar industry for nearly 22 years. As a master electrician, he understands the minute details of each solar installation as a well-regarded player throughout the entire solar industry,” Lacey added. “I am happy that Scott’s vision for the company can continue to press forward as we further build on the transformative momentum he established since May.”
Lacey noted that together with his management team, Maskin has reduced overhead and operating expenses, elevated corporate governance, restructured internal operations, and addressed weaknesses in the Company’s capital structure.
“I’m grateful to our board of directors and SUNation’s investors for their support over the past several months and for the confidence they have shown in my ability to lead the Company. I look forward to continuing to work with them and leading the effort every day to ensure that SUNation’s future is vibrant,” Maskin said. “When I took the helm as the interim CEO, I knew that my work was cut out for me, but with perseverance and hard work, we have better positioned the Company for future growth and success. The faith the Board is placing in me as the Company’s permanent CEO is both humbling and invigorating. This is an exciting time at SUNation and I am honored to be able to lead our talented team towards an exciting future.”
About SUNation Energy, Inc.
SUNation Energy, Inc. 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, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with 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. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Safe Harbor Statement
Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
Contacts:
Scott Maskin
Chief Executive Officer
+1 (631) 823-7131
smaskin@sunation.com
SUNE Investor Relations
+1 (952) 996-1674
IR@sunation.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d78aab8-3ea9-4216-9da9-8fbb59e9b365
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