SolarEdge Announces Appointment of New SVP Finance and CFO Transition Plan

SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (Nasdaq: SEDG), a global leader in smart energy technology, announced the appointment of Ariel Porat as Senior Vice President, Finance. The appointment comes as part of a succession plan for the Chief Financial Officer role at the Company. Ronen Faier, who currently serves as the Company’s Chief Financial Officer, has notified the Board of Directors of his desire to step down from the Chief Financial Officer role. Mr. Faier will continue to serve as the Company’s Chief Financial Officer for approximately three months at which time and upon the Board’s formal appointment, Mr. Porat is expected to assume the role of Chief Financial Officer of the Company. Mr. Faier is expected to remain with the Company to assist with the transition and work on other strategic projects.

Mr. Faier assumed the role of CFO in December 2010 and is the Company’s longest-serving CFO. “Ronen has been an instrumental part of the SolarEdge family, helping lead the Company through its IPO and its first nine years as a public company, and has built the financial backbone of the Company for many years,” said Zvi Lando, Chief Executive Officer. “His contributions as part of management and as a colleague and friend have been an integral part of the SolarEdge culture. On behalf of our executive team and the Board of Directors, we thank him for his endless dedication to the Company and its employees and are grateful that he will be assisting with a smooth transition for Ariel and the entire finance team.”

Mr. Porat joins SolarEdge with more than a decade of leadership and finance experience in various industries and global corporations, with his last position as Head of Europe Region for Siemens Energy. Prior to that position, Porat was CEO of Siemens Israel from 2020-2021, and prior to that served as the CFO of Siemens Israel from 2017-2020.

Mr. Porat brings a wealth of experience and expertise from working for large multinational companies, such as TEVA Pharmaceutical, Siemens AG and Siemens Energy AG, and experience in the fields of Energy, Healthcare, Mobility and Industry.

“We are very excited to have Ariel join SolarEdge,” said Mr. Lando. “He is a seasoned executive with a proven track record in multinational companies dedicated to accelerating the energy transition, and we look forward to the contributions he will bring to our company.”

Porat holds an MBA from INSEAD in France and a Bachelor’s degree in Industrial Engineering & Management from Tel Aviv University.

SolarEdge | https://www.solaredge.com/us/