SolarCity CFO to Leave; COO Promoted to President
November 24 2015 - 8:30PM
Dow Jones News
SolarCity Corp. has promoted its chief operations officer to
president and said its chief financial officer plans to step down
in February, according to a regulatory filing.
Tanguy Serra, the former chief executive of fellow solar energy
company Vivint Solar and vice president of private-equity
investment firm TPG Capital LP, will continue to oversee
SolarCity's operations while taking on the company's structured
finance, asset management and investor relations.
He joined SolarCity in May 2013 as executive vice president of
operations. Mr. Serra's pay and benefits package were yet to be
finalized, the solar company said Tuesday in filing with the
Securities and Exchange Commission.
Chief Financial Officer Brad Buss told the company Monday that
he planned to step down in February, when the company reports its
year-end results. Mr. Buss will stay on as an adviser to the
company for the rest of 2016, the company said.
Based in San Mateo, Calif., SolarCity is chaired by Elon Musk ,
chief executive of Space Exploration Technologies (SpaceX) and
Tesla Motors Inc.
Shares of the company, already down 47% this year, fell 3.3% to
$27.62 in late trading.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 24, 2015 20:15 ET (01:15 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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