Bloom Energy Appoints Stanford’s Michael Boskin and Former GE CEO Jeff Immelt to Board of Directors
November 07 2019 - 4:27PM
Business Wire
Bloom Energy (NYSE: BE), a market leading provider of clean,
reliable, distributed electric power, today announced that Dr.
Michael J. Boskin, the Tully M. Friedman Professor of Economics and
Wohlford Family Senior Fellow at Stanford University’s Hoover
Institution, and Jeffrey Immelt, former Chairman and CEO of GE
(NYSE: GE) and current Venture Partner of New Enterprise
Associates, will join the company’s Board of Directors, effective
November 12, 2019. At that time, the Board will expand from eight
to 10 directors.
In addition to his role at Stanford’s Hoover Institute, where he
has been on the faculty since 1971, Dr. Boskin is also a research
associate at the National Bureau of Economic Research. He served as
Chairman of President H.W. Bush’s Council of Economic Advisors from
1989-1993 and on Ronald Reagan’s Tax Policy Task Force during his
presidential campaign. Dr. Boskin later chaired the blue-ribbon
Commission on the Consumer Price Index, which changed the way
government statistical agencies around the world measure inflation,
productivity and GDP. He is also CEO and President of the
consulting firm Boskin & Co., Inc. Dr. Boskin currently serves
on the board of directors of Oracle Corporation (NYSE: ORCL) and
previously served on several boards including Exxon Mobil
Corporation (NYSE: XOM) and Vodfone Group plc (NASDAQ: VOD).
During his more than 16-year tenure as CEO of GE, Mr. Immelt
revamped its strategy, global footprint, workforce and culture,
resulting in a simpler, stronger, and more focused company. He led
transformations that re-established GE’s market leadership, grew a
strong share position in essential industries, doubled industrial
earnings and reshaped the company’s portfolio. Barron’s named
Immelt one of the “World’s Best CEOs” three times, and while he was
at the helm of GE, Fortune dubbed it “America’s Most Admired
Company.” Mr. Immelt currently serves on the board of directors of
Twilio (NYSE: TWLO).
Commenting on these appointments, KR Sridhar, Founder, Chairman,
and CEO of Bloom Energy said, “Jeff and Michael are both amazing
leaders with strong global energy experience and they will add
important perspectives on the Board. Michael has been involved in
numerous major economic policy issues and has deep governance and
oversight expertise through his service on several public company
boards. Jeff brings significant knowledge of the global power
markets and deep customer connections, as well as invaluable
experience as a transformational leader of a Fortune 500 company.
Michael and Jeff both know Bloom well and strongly believe in our
mission. We look forward to working with them as we continue to
scale out our world-leading technology to supply clean, reliable
and affordable energy.”
“Now more than ever, it’s clear that the world needs resilient
and reliable energy that is clean and affordable,” said Mr. Immelt.
“Having been in the energy industry for decades, I know what Bloom
provides is incredibly unique, and I’m excited to join the Board
and help KR and his team continue to execute on the mission.”
“It’s been a privilege to watch Bloom continue to drive needed
change, disrupting a deeply entrenched industry,” said Dr. Boskin.
“I’m committed to help the company continue to execute on its
strategy and deliver value for customers and investors.”
Mr. Immelt will serve on the Audit Committee of the Board. Dr.
Boskin will serve as a member of the Audit Committee and the
Nominating, Governance and Public Policy Committee of the
Board.
Mr. Immelt and Dr. Boskin will join a Bloom Energy Board that
includes: John Chambers, Founder and CEO, JC2 Ventures; General
Colin L. Powell USA (ret.), 65th U.S. Secretary of State; John
Doerr, Chairman of Kleiner Perkins Caufield and Byers; Scott
Sandell, Managing General partner of New Enterprise Associates; the
Honorable Mary K. Bush, President of Bush International, LLC; Peter
Teti of Alberta Investment Management Corporation; Eddy Zervigon,
Special Advisor at Riverside Management Group; and KR Sridhar,
Founder, Chairman and CEO of Bloom Energy.
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable, and
affordable energy for everyone in the world. The company’s product,
the Bloom Energy Server, delivers highly reliable and resilient,
‘Always-On’ electric power that is clean and sustainable. Bloom’s
customers include 25 of the Fortune 100 companies and leaders in
cloud services and data centers, healthcare, retail, financial
services, utilities, and many other industries. For more
information, visit www.bloomenergy.com
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version on businesswire.com: https://www.businesswire.com/news/home/20191107006103/en/
Investor Relations:
Mark Mesler Bloom Energy T: 408.543.1743
Mark.Mesler@bloomenergy.com
Media:
Natalia Blank Bloom Energy T: 408.543.1566
Natalia.Blank@bloomenergy.com
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