Enphase Energy CEO steps down as board searches for successor

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Enphase Energy announced today that after more than 10 years at the helm of the company, Paul Nahi is stepping down as President and CEO. He will continue to assist Enphase as it transitions to a new leader. The Company’s Board of Directors has begun a search for a replacement that includes both internal and external candidates, with the intention to name a successor by August 31, 2017. In the interim, the Board has created an Office of the CEO, consisting of Bert Garcia, CFO, and Badri Kothandaraman, COO, to oversee and provide leadership for the Company’s day-to-day activities.

“On behalf of the Board, we would like to thank Paul for his exceptional leadership, and his many years of service to Enphase and the solar industry,” said Steve Gomo, lead independent director of Enphase Energy’s Board of Directors. “As the Company’s first and only CEO, Paul has led Enphase from pioneering the world’s first microinverter to becoming a leading global provider of energy management solutions. We appreciate his many contributions and wish him continued success.”

“It has been an enormous privilege to lead Enphase since inception and through its growth to become a leading global energy technology company,” said Paul Nahi. “Our invention of the microinverter and the introduction of module level data monitoring has transformed the global solar energy landscape. Having managed Enphase from a concept through global leadership, I feel the time is right for a new CEO to continue its growth, while Enphase increases market share, expands into new geographies and explores new opportunities. As Enphase continues into its second decade, it is poised for a future of sustained profitability, having successfully embraced the challenges of managing operating expenses while accelerating its investments in next-generation technologies. I remain passionate about Enphase’s bright future, and I am confident its best days are yet to come.”

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