Mary Powell, Director and Incoming CEO, said: “I am beyond excited to be joining this team of talented and passionate Sunrunners, whose incredible work has helped to transform the lives of 600,000 customers by providing them with a renewable, more resilient and affordable energy experience. With climate-related risks on the rise, an electric grid system well over 100 years old, and a national focus on addressing climate change, Sunrun’s mission to build a planet powered by the sun is more critical than ever. I am looking forward to using my experience leading energy companies to accelerate home electrification, drive innovation for customers and generate long-term sustainable value for all of our employees, customers and financial partners.”
Gerald Risk, Lead Independent Director, said: “As an early investor in Sunrun, I have had a front row seat to the remarkable success the Company has achieved under Lynn’s and Ed’s leadership. The Board believes Mary’s impressive track record of managing complex field operations and achieving operational excellence and great results for customers make her the ideal leader to build on Sunrun’s success. Mary, Ed and Lynn will make an exceptional team.”
Second Quarter 2021 Financial Results
In a separate press release issued today, Sunrun announced its financial results for the second quarter of 2021. The press release is available on the Company’s investor relations website at investors.sunrun.com.
About Mary Powell
Mary Powell has served as a member of Sunrun’s Board of Directors since February 2018. From 2008 to 2019, Powell served as the President and Chief Executive Officer of Green Mountain Power Corporation (formerly NYSE: GMP), an electric services company that serves 75% of the State of Vermont’s residential and business customers. As CEO of Green Mountain Power, she successfully executed a strategy to drive increased customer satisfaction and growth, delivered on an ambitious energy vision to provide low-carbon, low-cost and highly reliable power to Vermonters and positioned the company as a leading energy transformation business. As CEO, Mary led the acquisition, and merger, of the state’s largest utility CVPS (NYSE:CV), achieving major cost reductions, higher customer satisfaction and delivering the first rate decrease to customers in over 25 years. Her previous roles at Green Mountain Power Corporation included serving as Senior Vice President and Chief Operations Officer from 2001-2008, and as Senior Vice President, Customer and Organizational Development from 1999-2001. Powell is nationally recognized for her work disrupting the energy system and has received numerous industry awards, including being named Utility Dive’s 2019 “Executive of the Year” in recognition for her leadership of Vermont’s investor-owned utility to prioritize and deliver on customer-choice distributed energy solutions. Prior to joining GMP in 1998, Mary held executive roles within the banking industry, and served in state government. An entrepreneur, she has previously founded two businesses. Powell currently serves on the board of directors CGI Inc. (NYSE:GIB), a global IT and business consulting services firm, and recently served on the board of Hawaiian Electric Industries Inc. (NYSE: HE), the largest utility in Hawaii. Powell has also served on the boards of a number of other privately held companies and nonprofits. Powell also recently chaired the board of Climate Change Crisis Real Impact | Acquisition Corporation (NYSE: CLII), a former special-purpose acquisition corporation that combined with EVgo Services and enabled the fast charging network for electric vehicles to become a publicly listed company.
About Sunrun
Sunrun is the nation’s leading residential solar, storage and energy services company. With a mission to create a planet run by the sun, Sunrun pioneered residential solar service. We have nearly 600,000 customers and have sold our solar service in 22 states, DC & Puerto Rico.
Forward-Looking Statements
This communication contains forward-looking statements related to Sunrun (the “Company”) within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements related to: the Company’s leadership team, management and performance; the Company’s financial and operating guidance and expectations; the Company’s business plan, market leadership, competitive advantages, operational and financial results and metrics (and the assumptions related to the calculation of such metrics); the Company’s momentum in the company’s business strategies, expectations regarding market share, customer value proposition, market penetration, financing activities, financing capacity, product mix, and ability to manage cash flow and liquidity; and the growth of the solar industry. These statements are not guarantees of future performance; they reflect the Company’s current
