HelioVolt shuffles executive management team, searches for permanent CEO

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HelioVolt has made changes to its executive management team and is searching for a permanent CEO. Board member Ron Bernal has been appointed as interim CEO and Sanjeev Kumar, the former chief financial officer of Energy Conversion Devices, has joined the Austin-based thin-film PV company as CFO; founder B.J. “Billy” Stanbery will continue to play a key role as chief strategy officer and chairman of the board.

The company says its board will conduct an international search for a permanent CEO to lead the company in its next phase of growth as a manufacturer of copper-indium-gallium-(di)selenide (CIGS) TFPV products.
 
“As HelioVolt shifts into high gear as a US solar manufacturer, the complementary experience of HelioVolt’s management team speaks volumes to the value we are building for our company, partners, and present and future investors,” said Scott Sandell, HelioVolt board member and NEA general partner.
 
“As the company continues to expand, the added skills to our management team will support our aggressive plans to manufacture and commercialize thin-film PV modules and BIPV products for global markets,” added Stanbery (pictured above).
 
Bernal, a HelioVolt board member since 2007 and partner at Sequel Ventures, will direct the company as it transitions from development stage to full-scale commercial production. He previously served as a venture partner at Sutter Hill Ventures and as VP of operations for the product technology groups at Cisco Systems.

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Kumar will lead the company’s overall financial growth while providing further organizational and strategic support. “I am particularly excited by HelioVolt’s proprietary thin-film manufacturing technology that enables low-cost, robust solar solutions that can scale to meet the world’s energy needs,” he said.

During Kumar’s tenure as CFO of ECD,  the amorphous-silicon TFPV company commercialized new technologies, reached profitability, completed a major capital raise, and delivered significant value to shareholders. He also serves on the board of Solar Integrated Technologies, a designer, manufacturer, and installer of building-integrated photovoltaic products. Kumar has more than 15 years of experience in global energy markets.

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