SolarEdge Appoints New CEO, Zvi Lando

TL;DR

SolarEdge CEO steps down, CFO Zvi Lando takes over as CEO, Raanan Rein is interim CFO.

AI Summary

SolarEdge Technologies, Inc. announced on August 23, 2024, the appointment of Mr. Zvi Lando as Chief Executive Officer, effective immediately. Mr. Lando, who previously served as the company's Chief Financial Officer, will also continue in his role as Executive Director. The company also announced the appointment of Mr. Raanan Rein as Interim Chief Financial Officer, succeeding Mr. Lando.

Why It Matters

This leadership change at a key executive level could signal a shift in strategy or operational focus for SolarEdge Technologies, impacting investor confidence and market performance.

Risk Assessment

Risk Level: medium — CEO transitions can introduce uncertainty regarding future strategy and execution, potentially affecting the company's performance.

Key Players & Entities

• SolarEdge Technologies, Inc. (company) — The company filing the report.
• Zvi Lando (person) — Appointed Chief Executive Officer and Executive Director.
• Raanan Rein (person) — Appointed Interim Chief Financial Officer.
• August 23, 2024 (date) — Effective date of the CEO appointment.

FAQ

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share SEDG NASDAQ (Global Selec
• $50 — s at a 30-day successive stock price of $50 or more during a two-year performance p

Filing Documents

• zk2431920.htm (8-K) — 40KB
• exhibit_99-1.htm (EX-99.1) — 16KB
• image00001.jpg (GRAPHIC) — 8KB
• 0001178913-24-002764.txt ( ) — 207KB
• sedg-20240823.xsd (EX-101.SCH) — 4KB
• sedg-20240823_lab.xml (EX-101.LAB) — 21KB
• sedg-20240823_pre.xml (EX-101.PRE) — 16KB
• zk2431920_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Chief Executive Officer Transition On August 23, 2024, Mr. Zvi Lando notified the Board of Directors (the "Board") of SolarEdge Technologies, Inc. (the "Company") of his resignation from the role of Chief Executive Officer of the Company ("CEO"), effective as of August 26, 2024 (the "Effective Date") . In connection with Mr. Lando's resignation, on August 24, 2024, the Board appointed Ronen Faier, who served as the Company's Chief Financial Officer prior to such appointment, as the Company's interim Chief Executive Officer ("Interim CEO"), effective as of the Effective Date. Following the Effective Date, Mr. Lando will continue to serve as a member of the Board and remain employed by the Company in the role of Special Advisor. Mr. Faier, age 53, has served as the Company's Chief Financial Officer since 2011. Prior to joining the Company, Mr. Faier served from 2008 to 2010 as the chief financial officer of Modu Ltd, a privately owned Israeli company. Between 2004 and 2007, Mr. Faier held several senior finance positions, including chief financial officer at M-Systems prior to its acquisition by SanDisk Corporation in 2006. Previously, Mr. Faier served as corporate controller of VocalTec Communications Ltd. Mr. Faier holds a CPA (Israel) license, an MBA (with Honors) from Tel Aviv University and a B.A. in Accounting and Economics from the Hebrew University in Jerusalem. Mr. Faier currently serves on the board of directors of Monday.com Ltd and Kaltura Inc. In connection with his appointment as Interim CEO, the Board approved the following compensation for Mr. Faier: (i) a total monthly salary of 216,000 NIS per month; (ii) an additional cash bonus incentive with a target amount of 100% of his base salary based on a performance period beginning September 1, 2024 through March 31, 2025 (and such bonus will b

01

Item 7.01. Regulation FD Disclosure. On August 26, 2024, the Company issued a press release announcing the resignation of Mr. Lando as CEO, the appointment of Mr. Faier as Interim CEO, and the appointment of Mr. Porat as Chief Financial Officer . A copy of the press release is attached as Exhibit 99.1 hereto. The information being furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise be subject to the liability of that section, and shall not be incorporated by reference into any other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release dated August 26, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOLAREDGE TECHNOLOGIES, INC. Date: August 26 , 2024 By: /s/ Rachel Prishkolnik Name: Rachel Prishkolnik Title: VP General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR