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SunPower Appoints Audrey Zibelman to its Board of Directors

RICHMOND, Calif., May 18, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services company, today announced that Audrey Zibelman has been appointed to its board of directors. Zibelman brings extensive experience driving innovation and leading the transition to clean energy at large organizations in the private and public sectors as a board member, CEO and government leader.

"Audrey is one of the most accomplished executives advancing the energy industry transformation, and I am honored to welcome her to our board," said Peter Faricy, SunPower CEO. "With her multifaceted experience in the power sector, I expect she will bring a unique and valuable perspective to SunPower as we aim to lead the market in rapid adoption of solar energy and home electrification."

Zibelman currently serves as an advisor and non-executive director to multiple companies and organizations leading on climate change including President Biden's National Infrastructure Advisory Council. Zibelman has served in a number of executive roles throughout her storied career, most recently as vice president of X, Alphabet's moonshot factory. There, she led a team focused on building accurate digital tools necessary for a decarbonized power system. Prior to that, she served as managing director and CEO of the Australian Energy Market Operator, the national power and gas system operator for Australia. There, she spearheaded the development of a market for consumer owned distributed power resources and established the roadmap for Australia to decarbonize its national power system.

Earlier in her career, Zibelman acted as chair of the New York Public Service Commission where she was a member of the governor's cabinet and led massive regulatory reform of the electric industry to support a decarbonized grid. Previously, she was chief operating officer of PJM, the world's largest wholesale energy market and a long-time executive of Xcel Energy, the United States' fifth largest multi-state integrated gas and electric utility.

"Consumer adoption of clean energy is a vital piece of the decarbonization puzzle. I am looking forward to working with SunPower to accelerate the shift to solar so more people can take advantage of renewable, resilient energy while creating a cleaner and more stable grid," said Zibelman.

About SunPower

SunPower is a leading solar and energy services provider in North America. SunPower offers solar + storage solutions designed and warranted by one company that give customers control over electricity consumption and resiliency during power outages while providing cost savings. For more information, visit www.sunpower.com.   

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our expectations for our business. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting use of solar energy and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

SOURCE SunPower Corp.

For further information: Media: Sarah Spitz, 832-444-7151, sspitz@sunpower.com; Investors: Mike Weinstein, 510-260-8585, Mike.Weinstein@sunpowercorp.com