Avery More Elected as Chairman of the Board
Guy Gecht Appointed as Member of the Board,
replacing Tal Payne
SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in
smart energy technology, today announced that the Board of
Directors (the “Board”) has elected Avery More as Chairman of the
Board of Directors, replacing Nadav Zafrir, who will remain on the
Board.
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Guy Gecht (Photo: Business Wire)
Also today, the Board appointed Guy Gecht as a member of its
Board of Directors, effective immediately. He will serve on the
Board’s Audit Committee and qualifies as Audit Committee financial
expert. He will also serve on the Board’s Technology Committee.
Guy Gecht brings decades of leadership and board expertise
across the technology, AI, and cybersecurity sectors. He served as
CEO of Electronics for Imaging (EFI) from 2000 to 2018, where he
led transformative growth and innovation. Gecht is currently a
board member at Logitech (NASDAQ: LOGI), where he chairs the
Technology and Innovation Committee, and in 2023 stepped in as
Logitech Interim CEO. Additionally, Gecht served on the board of
Check Point Software Technologies (NASDAQ: CHKP) from 2006 to 2024,
including as Lead Independent Director from 2020. Earlier in his
career, he held software leadership roles at various startups and
was Chief Technology Officer of Apple Israel.
Mr. Gecht is replacing Ms. Tal Payne who stepped down from the
Board on November 5, 2024 after nearly a decade long service on the
Board since the Company’s initial public offering in March
2015.
“I would like to congratulate Avery on assuming the role of
Chairman. Avery brings to this role vast experience, intimate
knowledge of the industry and familiarity with the SolarEdge
business and management team which positions him well to provide
guidance and oversight during these important times. I would also
like to thank Tal for her many years of dedicated service and
contributions to our Board,” said Nadav Zafrir.
“I want to thank Nadav for his service as Chairman and for his
ongoing commitment to SolarEdge. It’s an honor to take on the role
of Chairman at such a pivotal time for the Company,” said Avery
More. “Strengthening our Board is essential as we advance our
mission, and I am thrilled to welcome Guy Gecht. With his strong
record, valuable perspectives, and deep experience in technology
and governance, I’m confident he will be instrumental in guiding
our next phase of innovation and growth at SolarEdge.”
“With renewable power becoming increasingly essential to a
sustainable future, I am thrilled to join the Board of SolarEdge, a
company recognized for its technology leadership in solar energy,”
said Guy Gecht. “I have great confidence in the talented team at
SolarEdge and am excited about the opportunities ahead for
SolarEdge to drive innovation and shape the future of renewable
energy.”
About SolarEdge
SolarEdge is a global leader in smart energy technology. By
leveraging world-class engineering capabilities and with a
relentless focus on innovation, SolarEdge creates smart energy
solutions that power our lives and drive future progress. SolarEdge
developed an intelligent inverter solution that changed the way
power is harvested and managed in photovoltaic (PV) systems. The
SolarEdge DC optimized inverter seeks to maximize power generation
while lowering the cost of energy produced by the PV system.
Continuing to advance smart energy, SolarEdge addresses a broad
range of energy market segments through its PV, storage, EV
charging, batteries, and grid services solutions. SolarEdge is
online at www.solaredge.com
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements that are
based on our management’s expectations, estimates, projections,
beliefs and assumptions in accordance with information currently
available to our management. This press release contains certain
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include information, among other things, concerning our
next phase of innovation and growth, future of renewable energy,
possible or assumed future results of operations, future demands
for solar energy solutions, business strategies and technology
developments. Forward-looking statements include statements that
are not historical facts and can be identified by terms such as
“anticipate,” “believe,” “could,” “seek,” “estimate,” “expect,”
“intend,” “may,” “plan,” “potential,” “predict,” “project,”
“should,” “will,” “would” or similar expressions and the negatives
of those terms.
Forward-looking statements inherently involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Given these
uncertainties, you should not place undue reliance on
forward-looking statements. Also, forward-looking statements
represent our management’s beliefs and assumptions only as of the
date of this release. Important factors that could cause actual
results to differ materially from our expectations include, but are
not limited to: our ability to deliver on the next phase of
innovation and growth; future of renewable energy, including demand
for renewable energy and solar energy solutions; our ability to
forecast demand for our products accurately and to match production
to such demand as well as our customers’ ability to forecast demand
based on inventory levels; macroeconomic conditions in our domestic
and international markets, as well as inflation concerns, rising
interest rates, and recessionary concerns; changes, elimination or
expiration of government subsidies and economic incentives for
on-grid solar energy applications; changes in the U.S. trade
environment; federal, state, and local regulations governing the
electric utility industry with respect to solar energy; changes in
tax laws, tax treaties, and regulations or the interpretation of
them, including the Inflation Reduction Act; the retail price of
electricity derived from the utility grid or alternative energy
sources; interest rates and supply of capital in the global
financial markets in general and in the solar market specifically;
competition, including introductions of power optimizer, inverter
and solar photovoltaic system monitoring products by our
competitors; developments in alternative technologies or
improvements in distributed solar energy generation; historic
cyclicality of the solar industry and periodic downturns; product
quality or performance problems in our products; shortages, delays,
price changes, or cessation of operations or production affecting
our suppliers of key components; disruption in our global supply
chain and rising prices of oil and raw materials as a result of the
conflict between Russia and Ukraine; our customers’ financial
stability and our ability to retain customers; our ability to
retain key personnel and attract additional qualified personnel;
performance of distributors and large installers in selling our
products; consolidation in the solar industry among our customers
and distributors; our ability to manage effectively the growth of
our organization and expansion into new markets and integration of
acquired businesses; our ability to recognize expected benefits
from restructuring plans; any unauthorized access to, disclosure,
or theft of personal information or unauthorized access to our
network or other similar cyber incidents; disruption to our
business operations due to the evolving state of war in Israel and
political conditions related to the Israeli government's plans to
significantly reduce the Israeli Supreme Court's judicial
oversight; our dependence on ocean transportation to timely deliver
our products in a cost-effective manner; fluctuations in global
currency exchange rates; changes in tax laws, tax treaties, and
regulations or the interpretation of them, including the Inflation
Reduction Act; changes in the U.S. trade environment, including the
imposition of import tariffs; business practices and regulatory
compliance of our raw material suppliers; our ability to maintain
our brand and to protect and defend our intellectual property; the
impairment of our goodwill or other intangible assets; volatility
of our stock price; our customers’ financial stability,
creditworthiness, and debt leverage ratio; our ability to retain
key personnel and attract additional qualified personnel; our
ability to effectively design, launch, market, and sell new
generations of our products and services; our ability to retain,
and events affecting, our major customers; our ability to service
our debt; and the other factors set forth under “Item 1A. Risk
Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2023, filed on February 26, 2024, and in other
documents we file from time to time with the SEC that disclose
risks and uncertainties that may affect our business. The preceding
list is not intended to be an exhaustive list of all of our
forward-looking statements. You should not rely upon
forward-looking statements as predictions of future events.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee that
future results, levels of activity, performance and events and
circumstances reflected in the forward-looking statements will be
achieved or will occur. Statements in this press release speak only
as of the date they were made. The Company undertakes no duty or
obligation to update any forward-looking statements contained in
this release, whether as a result of new information, future events
or changes in its expectations or otherwise, except as may be
required by applicable law, regulation or other competent legal
authority.
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Investor Contacts SolarEdge Technologies, Inc. JB Lowe,
Head of Investor Relations investors@solaredge.com
Sapphire Investor Relations, LLC Erica Mannion or Michael Funari
investors@solaredge.com
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