Hannon Armstrong Announces Leadership Transition
17 February 2023 - 8:31AM
Business Wire
Jeff Lipson named President and CEO; Jeff Eckel
will become Executive Chair; Marc Pangburn to succeed Lipson as
CFO
As part of our planned leadership succession process, the Board
of Directors of Hannon Armstrong Sustainable Infrastructure
Capital, Inc. ("Hannon Armstrong," "HASI," or the "Company") (NYSE:
HASI) today announced three key executive appointments, effective
March 1, 2023.
- Jeffrey A. Lipson, currently EVP, Chief Operating Officer (COO)
& Chief Financial Officer (CFO), will become the President
& Chief Executive Officer (CEO).
- Jeffrey W. Eckel, currently Chair, President & CEO, will
assume the role of Executive Chair and continue leading the
Board.
- Marc T. Pangburn, currently EVP and Co-Chief Investment
Officer, will become CFO.
"Jeff Eckel, one of the most experienced CEOs in the clean
energy industry, has had a significant impact on climate solutions
investing. Over the past several decades, he has developed and
executed a visionary strategy that has established HASI as a
globally recognized climate solutions investor with a leading
record of shareholder return," said Teresa M. Brenner, Lead
Independent Director of the HASI Board. "He has cultivated a deep
and skilled leadership team to support the company's continued
growth. Jeff Lipson has demonstrated exceptional leadership with
our company and throughout his career and is dedicated to our
company’s mission. The Board is confident in his ability to lead
our company and capitalize on the significant market opportunities
in front of us," added Ms. Brenner.
"I am proud of this company’s strategy, its execution over the
ten years as a public company, and the mission-driven talent we
have attracted," said Mr. Eckel. "Jeff Lipson has been instrumental
in our success, including the execution of our strategy, building a
diverse funding platform, and improving many of our operational
processes. I have tremendous confidence in him and the team as we
envision the next chapter of this great company."
Mr. Lipson, 55, joined HASI in 2019 as CFO and also became COO
in 2021. He has broad leadership experience in innovative financial
institutions, including serving as the President and CEO of
Congressional Bank (now Forbright Bank) and as Treasurer at
CapitalSource. In his new role, Mr. Lipson is also expected to join
the Company's Board of Directors.
Mr. Panburn, 37, joined HASI in 2013 and has been Co-Chief
Investment officer since 2021. He has been instrumental in
expanding HASI's investment capabilities into a market-leading
platform and has been directly involved in strategic decisions and
organizational development. Nathaniel J. Rose, currently the
Co-Chief Investment Officer, will remain in his role as the Chief
Investment Officer.
"I am grateful to Jeff, our Board, and our outstanding team for
this opportunity," said Mr. Lipson. "HASI is a unique company
driven by an unwavering mission and client focus, and we are
well-positioned to take advantage of the abundant growth
opportunities in the climate solutions market. I am eager to
continue working closely with Jeff in his new role and with Marc,
who has a demonstrated track record of significant success in
building the business."
In addition to the above-mentioned executive management changes,
the Company is pleased to announce that Susan D. Nickey will
continue in her role as EVP and Chief Client Officer, with expanded
duties to support the organization's strategic growth. Ms. Nickey
has been a critical component of HASI's success while also working
with a team of fellow industry leaders to develop the American
Clean Power Association (ACP) into a formidable advocacy
organization, of which she was recently appointed Chair-Elect of
the ACP Board. "Susan is among the most respected individuals in
the clean energy industry, and we congratulate her on this
appointment," said Mr. Eckel. "We look forward to her taking on a
larger role within the company as part of this organizational
transition while continuing to provide leadership to ACP," said Mr.
Lipson.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company
solely dedicated to investments in climate solutions, providing
capital to assets developed by leading companies in energy
efficiency, renewable energy, and other sustainable infrastructure
markets. With more than $9 billion in managed assets, our core
purpose is to make climate positive investments with superior
risk-adjusted returns. For more information, please visit
hannonarmstrong.com or follow us on Twitter and LinkedIn.
Forward-Looking Statements
Some of the information contained in this press release is
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 that are subject to
risks and uncertainties. For these statements, we claim the
protections of the safe harbor for forward-looking statements
contained in such Sections. These forward-looking statements
include information about possible or assumed future results of our
business, financial condition, liquidity, results of operations,
plans and objectives. When we use the words "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should,"
"may" or similar expressions, we intend to identify forward-looking
statements.
Forward-looking statements are subject to significant risks and
uncertainties. Investors are cautioned against placing undue
reliance on such statements. Actual results may differ materially
from those set forth in the forward-looking statements. Factors
that could cause actual results to differ materially from those
described in the forward-looking statements include those discussed
under the caption “Risk Factors” included in our most recent Annual
Report on Form 10-K as well as in other periodic reports that we
file with the U.S. Securities and Exchange Commission
Forward-looking statements are based on beliefs, assumptions and
expectations as of the date of this press release. We disclaim any
obligation to publicly release the results of any revisions to
these forward-looking statements reflecting new estimates, events
or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230216005792/en/
Media: Gil Jenkins media@hannonarmstrong.com
443-321-5753
Investors: Neha Gaddam investors@hannonarmstrong.com
410-571-6189
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