x

Posted 28 August, 2023

ENERGY FOCUS, INC/DE appointed Chiao Chieh Jay Huang as new CEO

Nasdaq:EFOI appointed new Chief Executive Officer Chiao Chieh Jay Huang in a 8-K filed on 28 August, 2023.


  The Board appointed Chiao Chieh Jay Huang to serve as the Company's new CEO.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of ENERGY FOCUS, INC/DE
Industrial Goods • Industrial Electronics
Energy Focus, Inc. engages in the design, development, manufacture, and marketing of lighting systems and controls. The company was founded in 1985 and is headquartered in Solon, OH.
Market Cap
$7.96M
View Company Details
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Change of CEO and Chairman

On August 24, 2023, the Board of Directors (the "Board") of Energy Focus, Inc. (the "Company" or "Energy Focus") approved the termination of the Company's Chief Executive Officer ("CEO"), Lesley Matt, effective immediately. The Board appointed Chiao Chieh Jay Huang to serve as the Company's new CEO. In line with this decision, Mr. Huang will discontinue his role as Chairman of the Board.

Mr. Huang, 48, is the President of Sander Electronics, Inc., which he has served as since 2015 and after holding positions of increasing responsibility since 1997. As an innovative entrepreneur, Mr. Huang has more than 20 years of experience in engineering and management within the LED lighting industry, and he holds over 50 electronic and lighting related patents, including commercial buildings, signages, and medical use. In recent years, Mr. Huang has devoted himself to the development of green energy-related products. In addition to assisting in the development of energy solution and energy storage, he has also assisted several collaborating companies to establish a sustainable governance system. Mr. Huang graduated from St. John's University with outstanding achievements from the Department of Electrical Engineering, where he specialized in microelectronic circuits, computer structure, engineering mathematics, microcomputer applications, system programming, interfacing technology, and electronic manufacturing.

There are no family relationships between Mr. Huang and any director or other executive officer of the Company. Other than the transactions between the Company and Sander Electronics, Inc. that have been disclosed in the Company's prior filings with the Securities and Exchange Commission (the "SEC"), there are no transactions between Mr. Huang or any member of his immediate families and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the SEC. Further, there is no arrangement or understanding between Mr. Huang and any other persons or entities pursuant to which Mr. Huang was appointed as Chief Executive Officer of the Company.

Energy Focus has consistently demonstrated a commitment to growth, innovation, and leadership within the industry. As part of our ongoing efforts to align our leadership structure with the evolving demands of the business landscape, the Board has undertaken a comprehensive review of the organization's strategic direction and executive responsibilities. The Board has determined that Mr. Huang's experience, vision, and strategic acumen make him the ideal candidate to lead the Company as the CEO. The Board firmly believes that his transition to the role of CEO from Chairman will further enhance the Company's position in the market.

As part of this transition, the Board has appointed Kin Fu Chen as the Chairman of the Board. Mr. Chen brings a wealth of experience and a deep understanding of Energy Focus' operations, values, and strategic goals, making him well-suited to guide the Board in its oversight and governance functions. This strategic decision is driven by the desire to leverage Mr. Huang's leadership strengths, experience, and expertise in a manner that best serves Energy Focus' growth trajectory. By concentrating his efforts as CEO, Mr. Huang will be able to direct his focus toward shaping the Company's operational strategies, driving innovation, and expanding its business horizons.

There are no family relationships between Mr. Chen and any director or other executive officer of the Company. There are no transactions between Mr. Chen or any member of his immediate families and the Company or any of its subsidiaries that would be reportable as a related party transaction under the rules of the SEC. Further, there is no arrangement or understanding between Mr. Chen and any other persons or entities pursuant to which Mr. Chen was appointed as Chairman of the Board of the Company.