US solar tracker manufacturer Nextracker has appointed Charles Boynton as chief financial officer (CFO).
Boynton will join in May this year from Logitech where he serves as CFO. In his new position, Boynton will lead Nextracker’s global finance and accounting organisation and will report to Nextracker’s founder and CEO Dan Shugar.
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Boynton also stepped down from Nextracker’s board after accepting his new position. He joined the board in February 2023.
Boynton also has experience in the solar industry, having served as CFO and executive vice president of SunPower between 2010 and 2018.
Current Nextracker CFO David Bennett will continue to serve in this position until transitioning to chief accounting officer once Boynton joins the company. Bennett will report to Boynton in his new position.
Prior to the appointment of Boynton, Nextracker recently signed an agreement with Australian tube and pipe manufacturer Orrcon Steel to manufacture components of trackers in Australia. The company said “critical steel components” will be produced from BlueScope’s steel coil at Orrcon Steel’s Salisbury Tube mill in Brisbane. BlueScope is a steel supplier and manufacturer and owns Orrcon Steel.
Nextracker has witnessed high shipment figures in its US business recently with a 70% year-on-year increase in the fourth quarter of 2023, driving 38% quarterly revenue growth. It is the third quarter in a row in which it raised guidance, with forecasted full-year revenue increased by US$100 million to US$2.45 billion, while the adjusted EBITDA target has been raised by US$73 million to US$488 million.
