Maxeon shuffles board of directors

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Steve Leonard, new independent non-executive director of Maxeon’s board of directors. Image: Maxeon

Maxeon Solar Technologies has added business incubator group leader Steve Leonard to its board of directors in a boardroom reshuffle.

Leonard is currently the chief executive of US-based Singular University, which serves as a provider of executive educational programs, a business incubator and innovation consultancy services. He will now serve as a non-executive director at Maxeon.

Meanwhile Maxeon director Chee Keong has handed in his resignation, which came into effect on 7 June.

Maxeon chief executive Jeff Waters said that Leonard’s previous experience working with technology companies and their application in social impact will provide “invaluable perspectives” to the company as it expands its business operations globally.

The manufacturer’s reported shipments and revenue figures totalled 379MW and US$165.4 million respectively in the first quarter of 2021, although its loss increased by 22% year-on-year due to higher materials and logistics costs. The company has forecasts shipments for the next quarter to stand between 415MW and 475MW, with revenues of US$165 – 185 million and a loss of US$5 – 15 million. Speaking with analysists last month, Waters said he expects the company’s newly-launched Maxeon Air solar panel product to make significant strudes in Europe, with a potential market of 4GW.

Leonard said: “I am committed to working with entrepreneurs, investors and senior leaders who tackle important challenges in areas that can improve the sustainability of the planet and the lives of people. The production of sustainable energy is a hugely important area for humanity.”

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