Summary by Moomoo AI
On February 26, 2024, SunPower Corporation announced the departure of Peter Faricy from his roles as Chief Executive Officer, Principal Executive Officer, and Director, effective immediately. The Board of Directors has accepted his resignation, which is not due to any disagreements with the company's operations, policies, or practices. Faricy's departure is considered a resignation for 'good reason' under his Employment Agreement, and he will receive severance benefits as outlined in his Separation Agreement. Concurrently, Thomas H. Werner, the company's Executive Chairman, has been appointed as the Principal Executive Officer. Additionally, Nathalie Portes-Laville has resigned from the Board, effective immediately, without any disagreements with the company. SunPower has issued a press release on February 27, 2024, detailing these changes and has established an Office of the Chairman to lead the company during the transition period while a comprehensive search for a new CEO is underway.
