BETHESDA, Md. — TerraForm Global announced that Brian Wuebbels has resigned as president and chief executive officer and as a member of the Company’s board of directors, effective immediately.
The board has formed an office of the chairman to lead TerraForm Global on an interim basis. The office of the chairman will be led by Peter Blackmore, an independent director and chairman of the Company. Independent directors Christopher Compton, Hanif Dahya and Jack Jenkins-Stark will also join the office of the chairman. The office of the chairman will report to the board and its committees in a substantially similar manner as a chief executive officer. All other key executives will remain in their roles, including Rebecca Cranna, executive vice president and chief financial officer, and Yana Kravtsova, general counsel, senior vice president and secretary.
“I look forward to working with my fellow independent directors and the management team as we continue to focus on maintaining the financial and operational strength of TerraForm Global,” said Mr. Blackmore.
Mr. Blackmore continued, “The board strongly believes that the office of the chairman is well-equipped to oversee the operations of TerraForm Global. All of the independent directors of the Company will continue to work with me in providing direction and oversight to management. In addition, the Company’s directors are mindful of their fiduciary duties and are committed to acting in the best interests of the Company and all of its shareholders.”
In addition, the board has appointed Mr. Ilan Daskal to be a member of the board, effective immediately. Mr. Daskal, age 50, has recently been appointed chief financial officer designee and executive vice president of SunEdison, with a scheduled start date of no later than April 4, 2016. Mr. Daskal has extensive experience as a chief financial officer and senior executive of various companies. Mr. Daskal received a Bachelor of Business degree in accounting from Tel-Aviv College of Management, Israel and a Master of Science degree in Finance from the City University of New York. The Board believes that Mr. Daskal’s extensive financial experience and history of leadership will enable him to effectively serve on the Board.
About TerraForm Global
TerraForm Global is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Global creates value for its investors by owning and operating clean energy power plants in high-growth emerging markets.