SunPower Corporation announced the resignation of chief financial officer (CFO) Chuck Boynton, who spent eight years with the solar company.
The company has named SunEdison veteran Manavendra Sial as its new CFO – responsible for finance, planning and accounting organizations.
SunPower CEO Tom Werner said: “Chuck will be with SunPower closing the sale of 8point3 Energy Partners along with completing the sale of other assets, which will improve our liquidity, allow us to deliver our balance sheet and provide the resources to further invest in our core growth initiatives.”
Manavendra Sial most recently served as CFO for VECTRA, a $1 billion technology-driven diversified industry business. At VECTRA, Sial leveraged his expertise to drive top-line growth, increase margins and improve cash generation, while implementing initiatives to simplify the company’s decision-making process.
Prior to VECTRA, Manavendra Sial was with SunEdison in various finance and operations leadership roles from 2011 to 2015 including CFO of MEMC’s solar energy and materials divisions.
Manavendra Sial spent 11 years with General Electric (GE) in a variety of roles, from FP&A leader for the Energy Services unit to CFO of Power Delivery for GE’s Transmission and Distribution group.