Director Resignation; Director Appointment
On January 19, 2017, Bernard Clément resigned from the Board of Directors (the “Board”) of SunPower Corporation (the “Company”), and on January 20, 2017, the Board appointed Julien Pouget as a member of the Board. Mr. Clément had served as the designee of Total Energies Nouvelles Activités USA, formerly known as Total Gas & Power USA, SAS (“Total”) to the Affiliation Agreement, dated April 28, 2011, as amended, between Total and the Company, and Mr. Pouget is replacing Mr. Clément as Total’s designee on the Board.
Mr. Pouget has served as Senior Vice President of the Renewables division of Total S.A. since January 1, 2017. From 2014 to 2016, he served as a senior advisor to the President of France, initially responsible for industry, then industry and digital, and finally for the economy. His responsibilities during this time included the restructuring of the French nuclear industry. Prior to his service to the president, Mr. Pouget spent six years in various positions at Alstom Power, including as Vice President of the heat exchangers product line for France, Switzerland, and China, as Vice President and General Manager of Asian activities and as project leader and as head of engineering for the heat exchangers on the Flamanville 3 EPR nuclear plant in France. From 2001 to 2008, Mr. Pouget held various positions in the French Ministry of Industry, and at the state shareholding agency at the French Ministry for Finance and Economy. Mr. Pouget is a chief engineer of the prestigious French Corps de Mines and a graduate of the École Polytechnique.
Mr. Pouget serves as a Class II director, to serve until the Company’s annual meeting of stockholders to be held in 2019. Mr. Pouget will serve on the Compensation Committee of the Board, and as an observer on the Audit Committee of the Board.
About SunPower Corporation (NASDAQ:SPWR) SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements. It offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase. The Company offers SunPower InvisiMount residential mounting system in its product portfolio. The Company offers Helix system, which is a pre-engineered, modular solution that combines its solar module technology with plug-and-play power stations, cable management systems and mounting hardware that enables customers to scale their solar programs with minimal business disruption. It offers modular solar power block, the Oasis system.
SunPower Corporation (NASDAQ:SPWR) Recent Trading Information SunPower Corporation (NASDAQ:SPWR) closed its last trading session up +0.21 at 6.92 with 2,310,877 shares trading hands.
