Stem Announces Leadership Changes

Stem, Inc. (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy software and services, today announced the following leadership changes to support the execution of the Company’s strategic priorities.

Doran Hole has been appointed Chief Financial Officer (CFO) and Executive Vice President (EVP), effective September 2, 2024. In addition to the CFO role, Mr. Hole will oversee the Company’s software and services group, focused on delivering high quality customer relevant software and service solutions, including the recently announced Athena PowerBidder Pro product. Mr. Hole succeeds Bill Bush, who is stepping down as CFO, effective September 2, 2024. Mr. Bush will continue to lead the Company’s public power and large scale FTM projects, as well as the supply chain team. Mr. Bush’s stepping down as CFO is unrelated to the Company’s financial or operating results or any disagreement with the Company regarding its financial, operational, accounting or reporting policies or practices.

Mr. Hole is an executive with more than 25 years of global finance and management experience, providing leadership in strategy and operational efficiency in the clean technology industry. He most recently served as EVP and CFO of Ameresco, where he led the Company’s financial strategy, capital management as well as strategic digitization efforts across the organization. Prior to that, he served as CEO for North America, and Group Vice President - Strategy, at ReneSola, where he played a key role in the Company’s capital markets strategy, North American operations and finance activities.

“We’re pleased to welcome Doran to our team as we take steps to enhance our leadership to support an evolution of our business and promote the Company’s focus on growing software services revenue, extending our technology leadership and driving profitable growth,” said John Carrington, Chief Executive Officer of Stem. “Doran’s deep financial and business experience, strategic acumen, and leadership qualities will be critical to our goal of focusing on cash flow generation and increasing our software and services revenue. Doran is a strong leader with a track record of adeptly guiding operational strategy, and I am excited about collaborating with Doran as we drive profitable growth.”