US based residential solar PV installation company Vivint Solar has confirmed its interim CEO David Bywater as the permanent CEO. He was serving in an interim role since May 2, 2016 succeeding former CEO Greg Butterfield.
Vivint made news when SunEdison wanted to acquire it for over $2.2 billion, post which SunEdison started to falter. In March 2016, Vivint terminated its merger agreement, soon after which SunEdison announced bankruptcy protection under Chapter 11.
David took over the reigns of the company at that time. The Board of Directors were supposed to look for another candidate for the CEO position, but they have finally zeroed in on Bywater. Peter Wallace, chairman of the board said, "We strongly believe David is the best candidate for the CEO position. He positions Vivint Solar to execute on its tremendous opportunity to provide clean, affordable energy to consumers."
Bywater was earlier the COO of Vivint Smart Home. As the interim CEO of Vivint Solar, he is credited with making significant gains in driving efficiencies in the company's installation process, rationalizing its cost basis and re-establishing closer collaboration with Vivint Smart Home.