XL Fleet appoints Eric Tech as CEO; prelim Q3 revenue $3.2M, cash $367M

SPRUCE POWER HOLDING CORP

Eric Tech named CEO effective Dec 1, 2021; succeeds Dimitri Kazarinoff stepping down to pursue other opportunities.
Preliminary Q3 2021 revenue ~$3.2M ($0.6M drive systems, $2.6M XL Grid); hurt by supply chain issues including chip shortages.
Cash and cash equivalents ~$367M as of Sep 30, 2021.
Director Declan Flanagan resigned effective Oct 31, 2021 due to change in principal occupation; no disagreement with company.

item 2.02 item 5.02 item 9.01

Executive movements

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

Appointed

Eric Tech

Chief Executive Officer

SPRU · SPRUCE POWER HOLDING CORP

Effective: 2021-12-01
Filed: November 1, 2021, 7:59 PM ET

On November 1, 2021, the Company issued a press release announcing that it had entered into an Executive Employment Agreement with Eric Tech (the “Employment Agreement”), pursuant to which Mr. Tech agreed to serve as the Company’s Chief Executive Officer effective as of December 1, 2021.

Departed

Declan Flanagan

Class I independent director

SPRU · SPRUCE POWER HOLDING CORP

Effective: 2021-10-31
Filed: November 1, 2021, 7:59 PM ET

On September 30, 2021, Declan Flanagan resigned from his role at Orsted A/S, resulting in a substantial change in his principal occupation and requiring that he tender his resignation as a Class I independent director of the Company pursuant to the Company’s Corporate Governance Guidelines. His resignation was accepted by the Company’s board of directors, effective as of October 31, 2021, and not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Eric Tech was appointed as Chief Executive Officer at SPRUCE POWER HOLDING CORP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On November 1, 2021, the Company issued a press release announcing that it had entered into an Executive Employment Agreement with Eric Tech (the “Employment Agreement”), pursuant to which Mr. Tech agreed to serve as the Company’s Chief Executive Officer effective as of December 1, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Declan Flanagan resigned as Class I independent director at SPRUCE POWER HOLDING CORP.

Action: resigned
Role: Class I independent director

Exact text from the filing

On September 30, 2021, Declan Flanagan resigned from his role at Orsted A/S, resulting in a substantial change in his principal occupation and requiring that he tender his resignation as a Class I independent director of the Company pursuant to the Company’s Corporate Governance Guidelines. His resignation was accepted by the Company’s board of directors, effective as of October 31, 2021, and not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.

View on SEC.gov

SPRUCE POWER HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001213900-21-055775

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