secwatch / observer
8-K filed August 6, 2024, 7:59 PM ET CIK 0000867773
other material confidence high sentiment negative materiality 1.00

SUNPOWER CORP: going-concern / distress — SunPower files Chapter 11, sells key assets to Complete Solaria for $45M

SUNPOWER CORP

item 1.01item 1.03item 2.03item 2.04item 5.02item 7.01item 8.01item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Thomas H. Werner

Executive Chairman
SUNPOWER CORP
Effective
2024-08-02
Successor
Matthew Henry
Filed
August 6, 2024, 7:59 PM ET
Mr. Werner will continue to serve in his capacity as Executive Chairman of the Board.
Appointed

Matthew Henry

principal executive officer
SUNPOWER CORP
Effective
2024-08-02
Filed
August 6, 2024, 7:59 PM ET
the board of directors of the Company (the “ Board ”) approved Matthew Henry, a Managing Director at Alvarez & Marsal North America, LLC (“ A&M ”), as replacing Thomas H. Werner as the principal executive officer (“ PEO ”) of the Company.
Appointed

Matthew Henry

Chief Transformation Officer
SUNPOWER CORP
Effective
2024-08-04
Filed
August 6, 2024, 7:59 PM ET
on August 4, 2024, Matthew Henry was engaged by the Company as Chief Transformation Officer (“ CTO ”).

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

SUNPOWER CORP entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2024-08-05).

Proceeding
chapter 11
Court
U.S. Bankruptcy Court for the District of Delaware
Petition
2024-08-05
Exact text from the filing
Item 1.03. Bankruptcy or Receivership. Voluntary Petition for Bankruptcy On August 5, 2024 (the “ Petition Date ”), SunPower Corporation (the “ Company ”) and certain of its direct and indirect subsidiaries (collectively, the “ Company Parties ”) filed voluntary petitions (the “ Chapter 11 Cases ”) under Chapter 11 of the U.S. Bankruptcy Code (the “ Bankruptcy Code ”) in the U.S. Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”).
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas H. Werner changed role as Executive Chairman at SUNPOWER CORP.

Action
continue
Role
Executive Chairman
Exact text from the filing
Mr. Werner will continue to serve in his capacity as Executive Chairman of the Board.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Henry was appointed as principal executive officer at SUNPOWER CORP.

Action
appointed
Role
principal executive officer
Exact text from the filing
the board of directors of the Company (the “ Board ”) approved Matthew Henry, a Managing Director at Alvarez & Marsal North America, LLC (“ A&M ”), as replacing Thomas H. Werner as the principal executive officer (“ PEO ”) of the Company.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Henry was appointed as Chief Transformation Officer at SUNPOWER CORP.

Action
appointed
Role
Chief Transformation Officer
Exact text from the filing
on August 4, 2024, Matthew Henry was engaged by the Company as Chief Transformation Officer (“ CTO ”).
View on SEC.gov

Browse all distress & bankruptcy →

Source: SEC EDGAR
accession 0000867773-24-000086
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