Cathy Behnen Appointed FTC Solar Chief Financial Officer
February 12 2024 - 8:00AM
FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar
tracker systems, software, and engineering services, announced
today that its Board of Directors has appointed Cathy Behnen Chief
Financial Officer with immediate effect. Behnen has been Interim
CFO since November 2023.
Shaker Sadasivam, Chairman of the Board of FTC
Solar, commented, “I am delighted to confirm Cathy’s appointment as
CFO. She has a detailed understanding of FTC Solar and the tracker
and finance markets, combined with deep technical expertise. Her
record of finance leadership, together with her performance as
interim CFO have clearly demonstrated her suitability to become
FTC’s permanent CFO. The Board looks forward to working with Cathy
as we continue to position the company for long-term profitable
growth.”
Cathy Behnen said, “It’s a privilege to become
CFO and help lead a company with such great potential. We’ve made
strong progress in improving our positioning and lowering our cost
structure, and I have no doubt this will continue. I’m excited to
continue to drive our focus on execution as we work toward
achieving our long-term targets.”
Before taking on the role of interim CFO, Behnen
had been FTC’s Chief Accounting Officer since 2020. Prior to
joining FTC Solar, her experience included more than 20 years of
financial leadership, including serving as CFO and VP of Finance at
Penn National Gaming Hollywood Casino Jamul – San Diego as well as
a Partner at the accounting firm RubinBrown, among other finance
and operations roles. She is a Certified Public Accountant and
holds an MBA from St. Louis University.
About FTC Solar Inc. Founded in
2017 by a group of renewable energy industry veterans, FTC Solar is
a leading provider of solar tracker systems, technology, software,
and engineering services. Solar trackers significantly increase
energy production at solar power installations by dynamically
optimizing solar panel orientation to the sun. FTC Solar’s
innovative tracker designs provide compelling performance and
reliability, with an industry-leading installation cost-per-watt
advantage.
FTC Solar Investor Contact:Bill
Michalek Vice President, Investor Relations FTC SolarT:
(737) 241-8618 E: IR@FTCSolar.com
Forward-Looking
Statements This press release contains forward
looking statements. These statements are not historical facts but
rather are based on our current expectations and projections
regarding our business, operations and other factors relating
thereto. Words such as “may,” “will,” “could,” “would,” “should,”
“anticipate,” “predict,” “potential,” “continue,” “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates” and similar
expressions are used to identify these forward-looking statements.
These statements are only predictions and as such are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. In addition,
this press release contains statements about third parties and
their commercial activity. We have not independently verified
or confirmed such statements and have instead relied on the
veracity of information as provided to us by such third parties
related to such statements. You should not rely on our
forward-looking statements or statements related to third parties
or their commercial activities as predictions of future events, as
actual results may differ materially from those in the
forward-looking statements or statements related to third parties
or their commercial activities because of several factors,
including those described in more detail above and in our filings
with the U.S. Securities and Exchange Commission, including the
section entitled “Risk Factors” contained therein. FTC Solar
undertakes no duty or obligation to update any forward-looking
statements or statements related to third parties or their
commercial activities contained in this release as a result of new
information, future events or changes in its expectations, except
as required by law.
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