Sunrun faucets technology market director to guide funds in year of headwinds
- An exec with previous duties in leading Silicon Valley companies will certainly be managing financial resources at Sunrun, the biggest United States PV household driver facing the financial effects from the COVID-19 break out.
In current days, Sunrun introduced the hire of Tom vonReichbauer as CFO, adhering to the volunteer stepdown by incumbent Bob Komin. The handover will certainly work on 11 May 2020, according to a declaration from the United States domestic gamer.
The company-- viewed as the leading United States domestic installer after surpassing Tesla 2 years back-- is getting vonReichbauer to deal with money, accountancy however likewise innovation. His hire brings, Sunrun CEO Lynn Jurich stated, somebody with a "tested performance history of constructing solid monetary companies".
For vonReichbauer, the arrival to Sunrun includes one more company to a collection started 15 years earlier. His money supervisor functions at Ford (2005-2008) were complied with by even more elderly placements at Tesla (2008-2013), where he looked after different cost-efficiency and also resources raising campaigns.
According to Sunrun, his period as CFO as well as others at clever house company Nest (2013-2018) saw him come to be "critical" in expanding the team in the run-up to its requisition by Google. Before Sunrun, he had actually transferred to Google itself (2018-2020) as well as was most lately used as a VP.
Incumbent steps down after 5-year earnings rise
The CFO reshuffle adheres to the choice by Sunrun's five-year incumbent Bob Komin to surrender. Designated to the duty in very early 2015, Komin is stepping down to "invest extra time with his relations as well as sustain his rate of interest in college", Sunrun stated.
"We are sad to see Bob Komin leave Sunrun, however regard his choice to be closer to household as well as tackle brand-new difficulties," CEO Jurich claimed in the ready declaration, defining Komin as "crucial" to Sunrun's funds over the past 5 years.
Komin, Jurich claimed, was a "relied on companion" when Sunrun detailed on the Nasdaq stock market in August 2015. Throughout his period, the company declares to have actually seen a 300% rise in incomes, a close to tripling of its client base as well as success ending up being cashflow-positive.
For Sunrun, the CFO handover comes as the solid bargains-- like its United States household solar peers-- with the after effects from the COVID-19 situation. Previously this month, the company published Q1 2020 sets up extensively according to earlier quarters yet shelved its earlier advice of 15% greater roll-out in 2020.