SunPower Brings Back Former CEO Of 18 Years

• Tom Werner has returned to SunPower Corporation, this time as executive chairman of the board 
• He previously led the company as the CEO and chairman of the board for 18 years 
• SunPower CEO Peter Faricy says the company will gain from Werner's experience in the solar business and his legacy institutional knowledge 

SunPower Corporation has brought back its former CEO and Chairman of the Board Tom Werner as the executive chairman of its board of directors. The company's current CEO Peter Faricy will continue as a director on the board. 

Werner is credited with leading the TotalEnergies invested solar power company to become one of the leading names in the industry. Under his leadership, the company spun off its manufacturing business into a separate entity, Maxeon Solar Technologies and became a full-fledged distributed PV company. 

After relinquishing the position of the CEO in March 2021, Werner continued as the chairman of the board for 6 months to ensure a smooth transition. He was replaced as the CEO by Peter Faricy (see SunPower CEO Tom Werner To Step Down After 18 Years). 

After leaving SunPower, Werner served in board and investor roles at H2U Technologies, Mainspring Energy, Flo, Wolfspeed, VIA Sciences and Kanin. 

Werner comes back to the organization at a time when the company has been facing industry headwinds with high interest rates and NEM 3.0 bringing down demand in the US residential segment. In 2023, it reported a net loss of -$246 million, and expects the losses to continue in 2024 as well (see SunPower Suffers -$247 Million GAAP Net Loss In 2023).   

"As we move forward into our next era and navigate this critical moment for our industry, we are pleased to welcome Tom Werner back to SunPower," said SunPower CEO Peter Faricy. "Tom's unmatched experience in the solar business and his legacy institutional knowledge will be invaluable. We look forward to partnering closely with Tom to shepherd SunPower into the future." 

Referring to the recent capital infusion into the company from TotalEnergies and Global Infrastructure Partners (GIP), Werner stated, "Building on the momentum from the additional capital, we look forward to turning our attention to strengthening SunPower's core business. Together, we will combine our knowledge and expertise to serve SunPower's shareholders, partners and customers."