SunEdison has done changes to drive organizational alignment and effectiveness. The Board of Directors appointed Emmanuel T. Hernandez to the role of Executive Chairman. The company also transferred Peter Blackmore to join in TerraForm Power and TerraForm Global as Chairman of the Board of Directors at both companies.
Emmanuel T. Hernandez is SunEdison's current Chairman. With the transfer to Executive Chairman, he will work closely with Ahmad R. Chatila, President and Chief Executive Officer, and the SunEdison management team as the company continues to implement its plans to improve the alignment and effectiveness of its operating structure, drive operational efficiency and focus on its organic development opportunities.
Peter Blackmore, on the other hand, has stepped down from SunEdison’s Board and will join TerraForm Power, Inc. and TerraForm Global, Inc. as Chairman of the Board of Directors. Steven Tesoriere, who has separately resigned from the Board of Directors for TerraForm Power and TerraForm Global, will remain on the SunEdison Board.
SunEdison also announced that Brian Wuebbels, Executive Vice President and Chief Financial Officer, will assume the additional roles of Chief Executive Officer of TerraForm Power and TerraForm Global, effective immediately. Mr. Wuebbels will succeed Carlos Domenech, who is leaving TerraForm Power and TerraForm Global as well as SunEdison.
Ahmad Chatila commented, "Manny brings distinctive expertise of the solar and financial markets. I look forward to continuing to benefit from his insights and perspective as we take aggressive steps to enhance our operations and drive improved cash flow. In addition, I look forward to partnering with Peter and the executive team at TerraForm Power and TerraForm Global to build independent, but strong and aligned companies that will drive shareholder value."