Solar panel maker SunPower announced the appointment of former Amazon.com executive Peter Faricy as the next chief executive officer.
SunPower’s current CEO Tom Werner will retire after 18 years with the company.
SunPower went public in 2005, sold a majority stake to French energy firm Total SE in 2011, and completed the spin-off of solar energy solutions company Maxeon Solar Technologies last August under Werner’s tenure as CEO.
Total has a stake of 51.5 percent in SunPower.
Peter Faricy, 54, most recently served as CEO of global media company Discovery’s direct-to-consumer business from September 2018 to August 2020. Earlier, he spent 13 years at Amazon.com, lastly as vice president leading the e-retail giant’s marketplace.
While Faricy will begin his new role on April 19, Werner will discuss the company’s fiscal performance during its first quarter 2021 earnings conference call.
Werner will also continue in his role as chairman for six months, after which the company said its board would recombine the positions of chairman of the board and CEO.