Proven software executive with more than 25
years of experience to lead Company in execution of its
software-focused strategy
Concludes CEO search announced in September
2024 and advances Stem’s transformation to a software and services
company
David Buzby to step down as Interim CEO and
Executive Chair, will remain Board Chair
Stem, Inc. (NYSE: STEM), a global leader in artificial
intelligence (AI)-enabled clean energy software and services, today
announced that its Board of Directors has appointed Arun Narayanan
as Stem’s new Chief Executive Officer, effective January 27, 2025.
Additionally, David Buzby will step down as Interim CEO and
Executive Chairman of the Board, effective January 27, 2025, and
will remain Chair of the Board.
“On behalf of the Board and the Stem leadership team, I am
thrilled to welcome Arun to Stem,” said David Buzby, Executive
Chair and Interim CEO. “Throughout our search for a new CEO, we
prioritized finding a leader with deep software expertise and a
track record of transformative leadership to advance Stem’s
software and services strategy forward and to drive scalable growth
and enhance long-term profitability. Arun's expertise in building
and managing software driven enterprises rounds out an experienced
management team that includes Doran Hole who recently joined as
Executive Vice President and Chief Financial Officer bringing 25
years of relevant industry experience and financial discipline.
Collectively, we now have a full team capable of taking advantage
of the opportunity to build the leading AI powered energy software
company.”
“I thank the Board for entrusting me to build upon Stem’s rich
history of best-in-class execution and to advance the Company’s
strategy,” said Mr. Narayanan. “I have always seen software as the
catalyst in accelerating the clean energy transition and the key
contributor to meeting our planet's climate goals. I look forward
to working alongside the talented team at Stem to accelerate
progress on our go-to-market strategy, drive growth and innovation,
and deliver exceptional software-driven value to our customers,
partners, and investors, helping promote safe, sustainable, and
resilient energy systems.”
Mr. Narayanan is a seasoned business and digital leader with
more than 25 years of expertise in software technology, operations,
data and analytics, spanning industries such as oil and gas and
renewable energy. His decades of experience at SLB (formerly
Schlumberger) and Anglo American, building industry leading
software for demanding global clients is a perfect complement to
Stem’s vision and well-timed for this pivotal moment in the
Company’s strategy and growth. Furthermore, Mr. Narayanan’s recent
experience in the renewable energy industry sets the stage for a
seamless entry as the leader and member of Stem’s strong executive
management team.
Prior to joining Stem, Mr. Narayanan served as CEO of RES
Digital Solutions, a division of RES, a global independent
renewable energy company. In this role, Mr. Narayanan spearheaded
innovation and led the development of cutting-edge software
products and solutions, driving the digital transformation of the
renewables sector. Prior to that, Mr. Narayanan was the Chief Data
Officer of Anglo American, where he led the digital strategy to
build its industry-leading data analytics platform, VOXEL.
Mr. Narayanan began his career at SLB, a Global Fortune 500
energy technology company, where, over his 21-year career, he held
a range of software focused leadership positions and was ultimately
responsible for defining and implementing software solutions as
Vice President, Data & Analytics for Schlumberger’s Software
division.
Forward-Looking Statements
Statements contained in this press release that are not
statements of historical fact, including those that relate to our
strategy and initiatives, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The potential risks and uncertainties that could cause our actual
results, performance or achievements to differ from predicted
results, performance or achievements include our ability to execute
on, and achieve the expected benefits from, our operational and
strategic initiatives; our ability to continue to grow and manage
our growth effectively; our ability to attract and retain qualified
employees and key personnel; our ability to retain or upgrade
current customers, further penetrate existing markets or expand
into new markets; our ability to meet contracted customer demand;
supply chain interruptions and manufacturing or delivery delays;
disruptions in sales, production, service or other business
activities; general macroeconomic and business conditions in key
regions of the world, including inflationary pressures, general
economic slowdown or a recession, rising interest rates, changes in
monetary policy, instability in financial institutions, and the
prospect of a shutdown of the U.S. federal government; the direct
and indirect effects of widespread health emergencies on our
workforce, operations, financial results and cash flows;
geopolitical instability, such as the ongoing conflict in Ukraine;
the results of operations and financial condition of our customers
and suppliers; pricing pressures; severe weather and seasonal
factors; our ability to comply with, and the effect on our business
of, evolving legal standards and regulations, including those
concerning data protection, consumer privacy, sustainability and
evolving labor standards; risks relating to the development and
performance of our energy storage systems and software-enabled
services; the risk that our business, financial condition and
results of operations may be adversely affected by other political,
economic, business and competitive factors; and other risks and
uncertainties discussed in our most recent Forms 10-K, 10-Q and 8-K
filed with or furnished to the SEC. Statements in this press
release are made as of the date of this release, and Stem disclaims
any intention or obligation to update publicly or revise such
statements, whether as a result of new information, future events,
or otherwise, except as required by law.
About Stem
Stem provides clean energy solutions and services designed to
maximize the economic, environmental, and resiliency value of
energy assets and portfolios. Stem’s leading AI-driven enterprise
software platform, Athena® enables organizations to deploy and
unlock value from clean energy assets at scale. Powerful
applications, including AlsoEnergy’s PowerTrack, simplify and
optimize asset management and connect an ecosystem of owners,
developers, assets, and markets. Stem also offers integrated
partner solutions to help improve returns across energy projects,
including storage, solar, and EV fleet charging. For more
information, visit www.stem.com.
Source: Stem, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250116467360/en/
Stem Investor Contacts Ted Durbin, Stem Marc Silverberg,
ICR IR@stem.com
Stem Media Contact Suraya Akbarzad, Stem
press@stem.com
Grafico Azioni Stem (NYSE:STEM)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Stem (NYSE:STEM)
Storico
Da Gen 2024 a Gen 2025
