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Posted 15 September, 2023

Capstone Green Energy Corp appointed Robert C. Flexon as new CEO

Nasdaq:CGRN appointed new Chief Executive Officer Robert C. Flexon in a 8-K filed on 15 September, 2023.


  On August 14, 2023, the Company filed a Current Report on Form 8-K (the "Original 8-K") to report that the Board of Directors (the "Board") of the Company had appointed Robert C. Flexon, the Company's then current Chairman of the Board, to serve as Interim President and Chief Executive Officer, effective August 22, 2023.  

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Overview of Capstone Green Energy Corp
Industrial Goods • Industrial Machinery
Capstone Green Energy Corp. engages in the development, manufacture, marketing, and service of microturbine technology solutions. It targets vertical markets worldwide such as natural resources, energy efficiency, renewable energy, critical power supply, transportation, and microgrids. The firm's products generate electric power output for commercial, industrial, and utility purposes. It also sells microturbine units, components, and accessories. The company was founded in 1988 and is headquartered in Van Nuys, CA.
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Relevant filing section
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers 


On August 14, 2023, the Company filed a Current Report on Form 8-K (the "Original 8-K") to report that the Board of Directors (the "Board") of the Company had appointed Robert C. Flexon, the Company's then current Chairman of the Board, to serve as Interim President and Chief Executive Officer, effective August 22, 2023. In connection with his appointment as Interim President and Chief Executive Officer, Mr. Flexon also transitioned from the role of Chairman of the Board to Executive Chairman, effective August 9, 2023.

Item 5.02 of this Current Report on Form 8-K amends and supplements the Original 8-K filed by the Company and is being filed to provide information required pursuant to Item 5.02 of Form 8-K.

On September 14, 2023, in light of Mr. Flexon's appointment as Interim President and Chief Executive Officer, the Board, upon recommendation from the Compensation and Human Capital Committee and with Mr. Flexon abstaining, approved a new compensation arrangement for Mr. Flexon consisting of an annual base salary of $600,000, which base salary will be pro-rated based on his total tenure as Interim President and Chief Executive Officer.