New CEO on Board at Solaredge: Solaredge Appoints Shuki Nir as CEO - Share Price Falls

Milpitas, USA / Herzliya, Israel - The Israeli solar group Solaredge has announced the appointment of a new CEO. Shuki Nir will succeed interim CEO Ronen Faier, who took over the position temporarily following the resignation of Zvi Lando in August 2024.

Nir, who also replaces Zvi Lando as a member of the Board of Directors, has been Chief Marketing Officer (CMO) for the RENIXX Group since June 2024. He has almost three decades of experience in leadership positions at multinational technology companies. Nir successfully served as General Manager of the consumer business at data storage specialist San Disk. He has also worked as a strategy consultant for multinational companies and sat on several boards, including Iron Source and Kornit Digital.

“Solaredge is gaining an accomplished and proven leader in Shuki, and I am delighted to announce him as our new CEO. Following a rigorous global search and evaluating several outstanding external and internal candidates, Shuki stood out for his exceptional leadership, operational expertise, and ability to build high-performing teams. Having served as CMO, he already understands our operations, values, and strategic goals. We believe Shuki is the right candidate to lead SolarEdge into its next phase of growth,” said Chairman of the Board Avery More.

More also welcomed the fact that interim CEO Faier will remain with the company as an advisor during a transition period to ensure a seamless leadership transition. “On behalf of the Board, I would like to take this opportunity to express how grateful we are for Ronen’s contributions as Interim CEO and for his many years of service as the Company’s CFO,” More said.

“The SolarEdge mission, to develop and scale renewable energy technologies that improve the way we generate, store, manage and use electrical power in every aspect of our lives, is truly inspiring. With our leading technological capabilities, best-in-class product lineup and extraordinarily talented team, I believe we have all the key ingredients to strengthen our market position and continue to deliver value to our customers, employees and shareholders,” says Nir optimistically about CEO's future development.

Investors reacted cautiously following the appointment of the new CEO. The share price slumped by 12% to EUR 11.78 yesterday, putting it in last place in the RENIXX ranking (05.12.2024, closing price, Stuttgart Stock Exchange). Compared to the turn of the year, the share price has fallen by a whopping 87 percent.

Source: IWR Online, 06 Dec 2024