SunPower terminates its chief operating officer a year after she was hired
By Tomi Kilgore
Chief Operating Officer Jennifer Johnston will be eligible for severance
SunPower Corp. disclosed Friday that Chief Operating Officer Jennifer Johnston has been terminated by the solar-panel maker's board of directors.
The termination comes one year after Johnston was hired.
The California-based company (SPWR) did not provide a reason for Johnston's termination, which is effective June 7. SunPower also did not immediately respond to a request for comment.
The stock edged up 0.2% in morning trading.
Also read: Solar stocks are rallying, with boosts from Tesla and China
Johnston joined SunPower as COO on May 8, 2023, to oversee the company's operations and customer-care organizations. Before joining SunPower, she was COO of a technology company, and before that she worked 10 years at Amazon.com Inc. (AMZN) in leadership positions in finance and business.
SunPower said that Johnston will be eligible to receive severance and benefits.
The stock has dropped 12.4% over the past three months and has tumbled 73% over the past year. In comparison, the iShares Global Clean Energy exchange-traded fund ICLN has lost 20.8% in the past year and the S&P 500 SPX has run up 28.3%.
-Tomi Kilgore
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-24-24 1005ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks