- Push-out Score determined
- After almost nine years in the position
- Praise for Jurich
- Mary Powell taking over
- Jurich will remain as Executive Co-Chair of the Board at Sunrun
- Jurich spoke at length and said 196 words
(exechange) — San Francisco, California, August 5, 2021 — Lynn Jurich, chief executive of Sunrun, leaves her position. As announced by Sunrun Inc. in a news release and in a regulatory filing published on Thursday, August 5, 2021, Lynn Jurich leaves her post as chief executive officer at the provider of residential solar, storage and energy services after almost nine years in the role, effective August 31, 2021.
Lynn Jurich’s duties as CEO will be taken over by Mary Powell, a former President and Chief Executive Officer at Green Mountain Power Corporation.
Already a director
Powell is already a director of Sunrun. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Powell understands the expectations and dynamics of the board and has knowledge of Sunrun’s organization, risk-management practices and strategy.
“Now is the time”
Lynn Jurich’s departure from the CEO post is explained as follows. Jurich said: “Given our strong foundation and the positive financial and operational momentum underway, I believe now is the time to make this transition and welcome Mary as Sunrun’s next CEO.”
Jurich will remain as Executive Co-Chair of the Board at Sunrun
“Powell will succeed Sunrun co-founder Lynn Jurich, who is transitioning to Executive Co-Chair of the Board after building and leading the Company for nearly a decade as CEO,” Sunrun said.
Sunrun said: “On August 5, 2021, Sunrun Inc. (the “Company”) announced that, effective August 31, 2021, Ms. Lynn Jurich would transition from her position as Chief Executive Officer of the Company to the role of Co-Executive Chair of the Company and that Ms. Mary Powell would be appointed Chief Executive Officer of the Company.”
“There were no disagreements between Ms. Jurich and the Company,” Sunrun said.
Share price decline since January 2021
The announcement follows a decline in Sunrun Inc.’s share price of 25% since January 2021.
In the position of CEO since 2012
Lynn Jurich became CEO of the Company in 2012.
Jurich is one of the Company’s co-founders and has served as the Company’s Chief Executive Officer since March 2014 and as a member of the Company’s board of directors since inception.
Jurich served as the Company’s Co-Chief Executive Officer from October 2012 to March 2014, the Company’s President from January 2009 to October 2012, and the Company’s Executive Vice President of Sales and Marketing from 2007 to January 2009.
From July 2002 to July 2005, Jurich served as an associate at Summit Partners, a private equity firm.
Jurich serves on the board of directors of privately held Generate Capital, Inc.
Jurich holds a B.S. in Science, Technology, and Society from Stanford University and an M.B.A. from the Stanford Graduate School of Business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Lynn Jurich’s move on a scale of 0 to 10.
exechange reached out to Sunrun and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2021 ($).