Bill Mulligan
to retire early next year; Former TCL Communication Technology CEO
George Guo named new Maxeon
CEO
SINGAPORE, Oct. 16,
2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd.
(NASDAQ: MAXN), a global leader in solar innovation and channels,
today announced that Bill Mulligan,
Chief Executive Officer, will retire at the end of January 2025. George
Guo, formerly an advisor to the Chairman of TCL Group and
previous CEO of TCL Communication Technology, has assumed the role
of Maxeon CEO and joined its Board of Directors effective
October 11, 2024. Mulligan will aid
the leadership transition through January.
Based in Silicon Valley, Guo brings nearly 40 years of
experience and an exceptional track record of technology
leadership, scaling-up high-volume manufacturing, and
driving growth in multiple technology business segments. Guo's
career spans corporate strategy, product positioning, go-to-market,
supply chain and operations management and includes leadership
roles at IBM's Santa Teresa Lab,
Chief Technology Officer and head of R&D for Zhaodaola
Internet, and several executive roles at TCL Communications,
culminating in six years serving as Chief Executive
Officer.
"We are very grateful to Bill
Mulligan for his invaluable work as Maxeon CEO, helping to
guide the Company through a period of transition and significant
challenges," said Donald Colvin,
Maxeon's Chairman of the Board. "Bill is a true solar industry
pioneer, and we wish him the very best for his next chapter.
George Guo is an exceptional
technology executive, and we are pleased to welcome him as Maxeon's
new Chief Executive Officer. His experience in turnarounds and his
proven capabilities in leading teams to commercialize product
innovation are extremely relevant to Maxeon's current market
position."
"I am excited to join Maxeon at this inflection point for the
Company and the industry," said George
Guo, Maxeon's incoming CEO. "There is tremendous opportunity
to capitalize on the accelerating global transition to renewable
energy, even as many companies including Maxeon are challenged to
overcome near-term pressure on revenue and profitability. Our
advantages include world-leading technology and products that span
utility-scale, commercial and residential markets, a deep patent
portfolio, and key strategic partnerships. By improving our
efficiency, reducing costs, and providing an optimal combination of
performance, reliability, and value in our solar products, I intend
for Maxeon to be the partner of choice for solar solutions going
forward and come through this current downturn in a strong
position."
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) is Powering Positive
Change™. Headquartered in Singapore, Maxeon leverages over 35 years of
solar energy leadership and over 1,900 patents to design innovative
and sustainably made solar panels and energy solutions for
residential, commercial, and power plant customers. Maxeon's
integrated home energy management is a flexible ecosystem of
products and services, built around the award-winning
Maxeon® and SunPower® branded solar panels.
With a network of more than 1,700 trusted partners and
distributors, and more than one million customers worldwide, the
Company is a global leader in solar. For more information about how
Maxeon is Powering Positive Change™ visit us at www.maxeon.com, on
LinkedIn and on Twitter/X @maxeonsolar.
Forward Looking Statements
This press release contains
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, including, but not limited to,
statements regarding the company's expectations of success in its
board composition and growth strategy. These forward-looking
statements are based on our current assumptions, expectations and
beliefs and involve substantial risks and uncertainties that may
cause results, performance, or achievement to materially differ
from those expressed or implied by these forward-looking
statements. As a result, readers are cautioned not to place undue
reliance on these statements. A detailed discussion of these
factors and other risks that affect our business is included in
filings we make with the Securities and Exchange Commission ("SEC")
from time to time, including our most recent report on Form 20-F,
particularly under the heading "Item 3.D. Risk Factors." and our
report on Form 6-K furnished with the SEC on September 3, 2024. Copies of these filings are
available online from the SEC or on the Financials & Filings
section of our Investor Relations website at
https://corp.maxeon.com/financials-filings/sec-filings. All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation
to update these forward-looking statements in light of new
information or future events.
©2024 Maxeon Solar Technologies, Ltd. All Rights Reserved.
MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd.
Visit https://corp.maxeon.com/trademarks for more information.
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SOURCE Maxeon Solar Technologies, Ltd.
