- Push-out Score determined
- After about two and a half years in the position
- Praise and thanks for Etnyre
- Sean Hunkler taking over
- Etnyre said 79 words
(exechange) — Austin, Texas, September 14, 2021 — Tony Etnyre, chief executive of FTC Solar, leaves. As announced by FTC Solar Inc. in a news release and in a regulatory filing published on Tuesday, September 14, 2021, Anthony P. (Tony) Etnyre leaves his post as chief executive officer at the provider of solar tracker systems, software and engineering services, after about two and a half years in the role, effective September 23, 2021.
Tony Etnyre’s duties as CEO will be taken over by Sean Hunkler, currently Executive Vice President of Global Operations at Western Digital Corporation.
The fact that Tony Etnyre’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Challenged by a tough operational environment”
FTC Solar did not give an explicit reason for Tony Etnyre’s departure from the CEO post. T.J. Rodgers, Chairman of the FTC Solar Board of Directors, said: “This transition comes at a time when Tony’s customer adoption efforts at FTC Solar are delivering unprecedented growth, but we are being challenged by a tough operational environment.”
Precise information regarding Tony Etnyre’s future plans was not immediately available.
“Step down”
FTC Solar said: “Tony Etnyre will step down as CEO and member of the Board of Directors.”
FTC Solar further said: “On September 13, 2021, Anthony Etnyre and the Board of Directors (the “Board”) of FTC Solar, Inc. (the “Company”) agreed that Mr. Etnyre would step down from his position as President and Chief Executive Officer of the Company, effective as of September 23, 2021.”
“Not related to any disagreement”
“Mr. Etnyre’s departure is not related to any disagreement with the Company, and Mr. Etnyre has agreed to remain employed by the Company for a transition period into 2022 in order to facilitate an effective transition,” FTC Solar said.
Share price decline since July 2021
The announcement follows a decline in FTC Solar Inc.’s share price of 25% since July 2021.
In the position of CEO since 2019
Tony Etnyre became CEO of the Company in 2019.
Etnyre has been a member of the FTC Team since its inception and serving as CEO since March of 2019.
Etnyre will continue to support the company on strategic matters and business development through a transition period reaching into 2022.
Anthony P. Etnyre has served as the Company’s President and Chief Executive Officer since May 2019.
Etnyre has been with FTC Solar since inception in January 2017 and served as Vice President of Operations and Business Development prior to assuming his current role.
From October 2013 to December 2016, he held multiple positions at SunEdison, Inc. (Sun Edison) including Vice President of the Solar Module Business Unit and Vice President of Design Engineering.
From August 1997 to September 2013, Etnyre held multiple engineering and operations leadership roles at Motorola/Freescale, including Director of Business Operations for Freescale’s global semiconductor factories and leading the Oak Hill, Texas Wafer manufacturing factory.
Etnyre, a graduate of the United States Military Academy at West Point, began his career in the U.S. Army as an Infantry Officer serving in multiple leadership positions in the XVIII Airborne Corps.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tony Etnyre’s move on a scale of 0 to 10.
exechange reached out to FTC Solar and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 38.2021 ($).