Investing.com -- Fluence Energy Inc (NASDAQ:FLNC) shares fell 5.9% in premarket trade Monday after the company announced the replacement of its CEO and CFO as part of an operational overhaul.
The energy storage company said Axel Meier has been appointed Interim CEO, replacing Julian Nebreda, who stepped down from his role as President and CEO. Ricardo Roizen was named Interim CFO, succeeding Ahmed Pasha, who also departed. Both changes are effective immediately.
Meier, who has served on Fluence's board since 2020, recently retired as CFO of Siemens Smart Infrastructure, bringing over 30 years of experience at Siemens. Roizen previously served as CFO of AES Andes and brings more than a decade of financial leadership experience with AES.
The leadership changes come as Fluence works to strengthen production systems, improve execution, and reinforce financial discipline. The company also appointed Marco Boos as Senior Vice President & Chief Customer Success Officer, effective November 15. John Zahurancik stepped down from the position.
"The Board is taking decisive action to strengthen leadership, sharpen accountability, and support Fluence's long-term success," said Herman Bulls, Chairman of the Fluence Board of Directors.
Fluence reported a record backlog of $6.4 billion in its fiscal third-quarter 2026 results. The company said it is focused on improving financial and operational execution, delivering on customer commitments, and prioritizing sustainable, profitable growth.
The Board established a new Manufacturing and Operations Oversight Committee to provide focused oversight of the company's efforts to strengthen manufacturing performance and operational execution. The committee will be chaired by Stephan May and include Stephen Coughlin and Elizabeth Fessenden.
The changes follow a class action lawsuit filed against Nebreda and Pasha alleging they failed to disclose delays in new contract manufacturing facilities that affected the company's fiscal 2026 guidance. The lawsuit claims these executives knowingly issued misleading statements, causing shares to drop across multiple disclosures in 2026.
Fluence will report fiscal year 2026 financial results after market close on November 23, with an earnings call scheduled for November 24 at 8:30 a.m. ET.
Original Article
Fluence Energy stock falls as company replaces CEO and CFO
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