- After almost 13 years in the position
- Praise, thanks and good wishes for Romano
- Rick Wilmer taking over
(exechange) — Campbell, California, November 16, 2023 — Pasquale Romano, chief executive of ChargePoint, leaves his position. As announced by ChargePoint Holdings Inc. in a news release and in a regulatory filing published on Thursday, November 16, 2023, Pasquale Romano leaves his post as chief executive officer at the electric-vehicle charging company, after almost 13 years in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Pasquale Romano’s duties as CEO will be taken over by Rick Wilmer, most recently Chief Operating Officer at ChargePoint Holdings Inc.
Pasquale Romano’s move coincides with a management shake-up also involving the position of Chief Financial Officer.
No reason given
In the announcement, ChargePoint did not explicitly explain the reason for the move.
Precise information regarding Pasquale Romano’s future plans was not immediately available.
“Resigned”
ChargePoint said: “Wilmer succeeds Pasquale Romano, who has served as ChargePoint’s CEO since 2011.”
ChargePoint further said: “The Company’s former President and Chief Executive Officer, Pasquale Romano, resigned from the Company and as a member of the Board of Directors of the Company (the “Board”) at the request of the Board and the Company’s former Chief Financial Officer, Rex S. Jackson, separated from the Company, respectively, effective November 16, 2023.”
Share price decline since November 2022
The announcement follows a decline in ChargePoint Holdings Inc.’s share price of 76% since November 2022.
In the position of CEO since 2011
Pasquale Romano became CEO of the Company in 2011.
Romano will remain as an advisor to ensure a seamless transition.
Pasquale Romano has served as President and Chief Executive Officer and a member of the Board for ChargePoint since February 26, 2021 and has held the same positions at Legacy ChargePoint since February 2011.
Prior to ChargePoint, Romano co-founded 2Wire, Inc., a provider of broadband service delivery platforms, where he served as its President and Chief Executive Officer from October 2006 until July 2010 when 2Wire, Inc. was acquired by Pace plc.
In 1989, he co-founded Fluent, Inc., a digital video networking company and served as its Chief Architect until the company was sold to Novell Corporation in 1993.
In August 2022, Romano was appointed to President Biden’s National Infrastructure Advisory Council which advises the White House on how to reduce physical and cybersecurity risks and improve the security and resilience of the nation’s critical infrastructure sectors.
Romano holds an A.B. in Computer Science from Harvard University and an M.S. from Massachusetts Institute of Technology.
No statement by Pasquale Romano
In the release announcing his departure as CEO of ChargePoint Holdings Inc., Pasquale Romano received praise, thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Pasquale Romano.
Push-out Score for Pasquale Romano’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Pasquale Romano was pushed out or felt pressure to leave his position.
exechange reached out to ChargePoint and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2023 ($).