SAN JOSE, Calif., Dec. 28, 2021 /PRNewswire/ -- SunPower Corp.
(NASDAQ:SPWR), a leading solar technology and energy services
provider, today announced the appointment of consumer marketing
veteran June Sauvaget as the company's chief marketing officer
(CMO).
As adoption of solar accelerates – on track to grow over 25%
year over year according to Wood Mackenzie – the typical solar
owner is transforming to include consumers across generations,
regions and income brackets. Despite continued growth, residential
solar remains in its infancy used by less than 4% of households. A
seasoned expert in the intersection of product, brand and
experience, Sauvaget will help guide SunPower to engage the new and
future solar user.
"Today's announcement underscores our ongoing commitment to
inspire more homeowners to choose SunPower whenever and wherever
they decide to go solar," said Peter
Faricy, CEO, SunPower. "June has a proven track record of
building some of the world's most iconic consumer brands and her
leadership will be critical in reimagining how solar companies
market, innovate and operate."
Sauvaget brings more than two decades of experience introducing
and scaling global brands into international markets, including her
time as global head of consumer & product marketing for
Spotify. She introduced the streaming music platform to new
audiences, including the launch of the service in Asia, Middle
East and Africa. Prior to
Spotify, Sauvaget worked with Shiseido and Gap to expand into
high-priority emerging markets. Sauvaget will work to cement
SunPower's position as an accessible solar and battery storage
provider for homeowners of all backgrounds, including communities
that have been historically marginalized.
Update on SunPower's Commercial & Industrial Solutions
Business
As part of its growing focus on and investment in
its Residential and Light Commercial business, earlier this year
the company announced it was exploring strategic options for its
Commercial & Industrial Solutions (CIS), which serves public
and private sectors. Following this review, SunPower has decided to
pursue the sale of the CIS business. This decision was made to
optimize SunPower's capital deployment, while enabling CIS to take
better advantage of its growing addressable opportunities such as
community solar and front-of-meter storage. SunPower is in advanced
discussions regarding a potential sale of its CIS business. The
company is seeking to finalize discussions as early as the first
quarter of 2022, focusing primarily on residential in 2022 and
beyond.
"Solar is becoming part of the fabric of America and, with the
right partner, the commercial business has an opportunity to fight
climate change on a larger stage. The potential buyer shares CIS'
strategic and financial goals as a champion of affordable, reliable
and clean energy solutions with the expertise, balance sheet and
capital resources appropriate for large-scale solar and storage
projects," added Faricy.
About SunPower
Headquartered in California's Silicon Valley, SunPower
(NASDAQ:SPWR) is a leading Distributed Generation Storage and
Energy Services provider in North America. SunPower offers the
only solar + storage solution designed and warranted by one company
that gives customers control over electricity consumption and
resiliency during power outages while providing cost savings to
homeowners, businesses, governments, schools and utilities. For
more information,
visit www.sunpower.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements regarding anticipated
market trends and growth, our anticipated sale of CIS, including
timing and certainty, the anticipated benefits of the transaction,
our and CIS's positioning to succeed in the future, our plans to
wind down legacy businesses, and our anticipated future areas of
focus. These forward-looking statements are based on our current
assumptions, expectations and beliefs and involve substantial risks
and uncertainties that may cause results, performance or
achievement to materially differ from those expressed or implied by
these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to
challenges in executing a CIS sale transaction and other
transactions key to our strategic plans, including regulatory,
logistical, and other challenges that may arise; potential
disruptions to our operations that may result from epidemics or
natural disasters, including impacts of the Covid-19 pandemic; and
changes in the policy environment, and the availability of economic
incentives for our products. In addition, the planned sale of the
CIS business may not be consummated within the anticipated period
or at all and the ultimate results and impact of any transaction
depend on a number of factors, including the negotiation of
definitive agreements and any third-party, regulatory, and other
approvals that may be required in connection therewith. A
detailed discussion of these factors and other risks that affect
our business is included in filings we make with the Securities and
Exchange Commission (SEC) from time to time, including our most
recent reports on Form 10-K and Form 10-Q, particularly under the
heading "Risk Factors." Copies of these filings are available
online from the SEC or on the SEC Filings section of our Investor
Relations website at investors.sunpower.com. All forward-looking
statements in this press release are based on information currently
available to us, and we assume no obligation to update these
forward-looking statements in light of new information or future
events.
©2021 SunPower Corporation. All rights reserved. SUNPOWER and
the SUNPOWER logo are trademarks or registered trademarks of
SunPower Corporation in the U.S.
View original
content:https://www.prnewswire.com/news-releases/sunpower-names-chief-marketing-officer-to-reintroduce-solar-to-homeowners-301451096.html
SOURCE SunPower Corp.