8-K
filed August 14, 2023, 7:59 PM ET
ticker CGEH
CIK 0001009759
leadership
confidence high
sentiment negative
materiality 0.85
Capstone Green Energy CEO resigns amid disagreement; Board Chair Flexon named Interim CEO
Capstone Energy Plus, Inc.
- Darren Jamison resigns as President & CEO and board member effective Aug 22, 2023, due to disagreement over alternatives to address senior secured notes situation.
- Board appointed Robert Flexon as Executive Chairman and Interim President & CEO; search for permanent CEO initiated.
- Company continues to pursue alternatives including a possible sale or bankruptcy, with an ongoing process seeking a buyer.
- Denise Wilson appointed Lead Independent Director; CFO John Juric remains.
- Flexon brings turnaround experience, having led Dynegy's bankruptcy and restructuring.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Darren R. Jamison resigned as Director at Capstone Energy Plus, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Later that same day, Mr. Jamison stated that he was also resigning from the Board, effective August 22, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Darren R. Jamison resigned as President and Chief Executive Officer at Capstone Energy Plus, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
On August 8, 2023, Darren R. Jamison informed the Board of Directors (the “Board) of Capstone Green Energy Corporation (the “Company”) of his resignation as President and Chief Executive Officer of the Company, effective August 22, 2023, and the Board advised Mr. Jamison that it accepted his resignation.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Denise M. Wilson was appointed as Lead Independent Director at Capstone Energy Plus, Inc..
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
In connection with Mr. Flexon’s transition to Executive Chairman, Denise M. Wilson was appointed Lead Independent Director of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Robert C. Flexon was appointed as Interim President and Chief Executive Officer at Capstone Energy Plus, Inc..
- Action
- appointed
- Role
- Interim President and Chief Executive Officer
Exact text from the filing
The Board also appointed Mr. Flexon as Interim President and Chief Executive Officer to succeed Mr. Jamison, effective August 22, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Robert C. Flexon was appointed as Executive Chairman at Capstone Energy Plus, Inc..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
The Board appointed Robert C. Flexon, age 64, and the Company’s current Chairman of the Board, to the position of Executive Chairman effective August 9, 2023.
View on SEC.gov
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