Summary by Futu AI
Maxeon Solar Technologies announced that CEO Bill Mulligan will retire at the end of January 2025, with George Guo, former TCL Communication Technology CEO, taking over effective October 11, 2024. Mulligan will assist with the leadership transition through January. The company will provide Mulligan with a $700,000 lump sum payment, $48,000 for health insurance, and acceleration of certain stock units.George Guo brings nearly 40 years of technology leadership experience, with expertise in high-volume manufacturing and business growth. His background includes executive roles at IBM's Santa Teresa Lab, CTO position at Zhaodaola Internet, and various leadership positions at TCL Communications. Based in Silicon Valley, Guo aims to improve efficiency, reduce costs, and strengthen Maxeon's market position.In additional leadership changes, Lindsey Roon Wiedmann will step down as Chief Legal & Sustainability Officer effective November 1, 2024, with Frank Jeng appointed as Interim Chief Legal Officer. Wiedmann will remain with the company until January 10, 2025, to assist with transition matters.