SunPower Names Wendell H. Laidley CFO
Rhea-AI Summary
SunPower (Nasdaq: SPWR) named Wendell H. Laidley as chief financial officer, reporting to CEO T.J. Rodgers, effective early February 2026. Laidley brings Silicon Valley finance and solar operating experience, including roles that raised $278 million and a tenure as founding CFO at Lumio when it grew to $750 million revenue.
His initial mandate is to unify multiple enterprise software instances inherited from six companies and streamline manual financial processes at SunPower’s Orem, Utah operations.
Positive
- Named Wendell Laidley as CFO with combined Silicon Valley and solar experience
- Laidley helped raise $278 million in prior role
- Laidley served as founding CFO at Lumio during growth to $750M revenue
Negative
- Company operates multiple ERP and software instances from six acquisitions
- Current financial processes are manual and require consolidation
News Market Reaction
On the day this news was published, SPWR declined 3.77%, reflecting a moderate negative market reaction. This price movement removed approximately $7M from the company's valuation, bringing the market cap to $178M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Sector peers show mixed moves, with names like TYGO up 6.96% while others such as SMXT are down 9.5%. Momentum scanner data only flags one solar peer (VVPR) moving down, suggesting this CFO appointment is a stock-specific development rather than part of a broad solar sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 03 | Acquisition closing | Positive | -5.4% | Closed all-equity Cobalt acquisition, adding projected <b>$30M</b> annual revenue. |
| Feb 02 | Financing agreement | Positive | -2.3% | Secured <b>$20M</b> SEPA plus <b>$55M</b> ELOC and proposed <b>$30M</b> equity raise. |
| Jan 29 | Product initiative | Positive | -2.7% | Launched national home battery program with partners and 15-year support. |
| Jan 26 | Product milestone | Positive | -2.9% | Completed first commercial installation of high-density Monolith solar panels. |
| Jan 20 | Earnings and guidance | Positive | -1.7% | Reported record Q4’25 revenue and positive operating income with Q1’26 guidance. |
Recent positive operational and financing news has been followed by consistently negative next-day price reactions.
Over the past few weeks, SunPower reported record Q4’25 revenue of $88.5M and full-year 2025 revenue of $308.8M, expanded liquidity via a $55M equity line and $20M SEPA, and advanced its strategy with the Cobalt Power Systems acquisition for $12M, a national battery storage initiative across 45 states, and the first commercial Monolith panel installation. Despite these operational and financial milestones, each announcement was followed by a negative 24-hour price reaction, indicating a pattern of market skepticism toward recent positive developments.
Market Pulse Summary
This announcement highlights a leadership upgrade, adding a CFO with both Silicon Valley financing background and direct solar industry experience in Salt Lake City. It follows a series of operational and financing milestones, including acquisitions and expanded credit facilities. Historically, positive news flow has not translated into positive next-day price reactions, underscoring market focus on execution and balance-sheet risks. Observers may watch how quickly the new CFO streamlines financial systems and supports the broader strategy outlined in recent filings and news releases.
Key Terms
saas technical
b2c technical
erp systems technical
AI-generated analysis. Not financial advice.
Both Silicon Valley and Solar Credentials
OREM, Utah, Feb. 05, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (herein “SunPower,” the “Company,” or Nasdaq: “SPWR”), a solar technology, services, and installation company – today announced that it hired Wendell Laidley as CFO, reporting to CEO T.J. Rodgers.
SunPower CEO T.J. Rodgers said, “When our company acquired the SunPower name and assets, I moved our headquarters to Salt Lake City from Silicon Valley despite the fact that miniscule Silicon Valley has produced six of the top 10 S&P 500 companies – due to its entrepreneurial culture and employee stock ownership practices. We moved because of California’s high costs and hostile business climate and the fact that Salt Lake is literally “Solar Valley,” the heart of the solar industry. So, my ideal CFO candidate had to have a deep understanding of how Silicon Valley works, be willing to move to Salt Lake, and also have significant solar experience. It took a year to find a candidate with that improbable resume.”
Wendell Laidley, SunPower CFO
Rodgers continued, “Wendell Laidley, started his career in San Francisco, in equity research and worked his way up to VP at the Deutsche Bank Technology group run by Silicon Valley’s legendary Frank Quattrone – the banker who took my company, Cypress Semiconductor, public. Wendell followed Quattrone’s group to Credit Suisse where he was named to the Institutional Investor’s All-America Research Team several times during his 1998-2002 tenure. He then became a stock portfolio manager in software for RS Investments, a spinout of San Francisco’s Robertson-Stephens Investment Bank – the other bank that took Cypress public. After a detour to found and profitably run Napa’s Realm Cellar Winery, he became the VP Finance for AppDynamics, a SaaS company for which he raised
Wendell Laidley said, “During my career in Silicon Valley, I always admired SunPower’s pioneering role in solar energy under the leadership of founder Dick Swanson and chairman T.J. Rodgers. Now, I am excited at the opportunity to help extend that legacy. In an environment of rapidly rising electricity rates that are escalating to the level of mortgage payments, the compelling benefits of residential solar adoption – both economic and environmental – have become obvious. As SunPower’s new CFO, I am committed to building an enduring company that prioritizes quality workmanship and customer satisfaction to ensure that every SunPower system delivers on our promises. I believe the solar industry’s lengthy success has just begun because only
Rodgers continued, “In 2020, Wendell’s life changed. He was lured to Salt Lake to become the founding CFO at Lumio, a solar company startup, which grew to
Rodgers concluded, “Wendell’s first job is to unify the multiple enterprise software instances we’ve inherited from six companies to speed up our manual financial process. Fortunately, our new CFO has installed new ERP systems multiple times.”
About SunPower
SunPower Inc. (Nasdaq: SPWR) is a leading residential solar services provider in North America. The Company’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.sunpower.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events, and , you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “expected to,” “focus,” “forecast,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” “could,” “forecast,” and “pursue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, without limitation, SunPower’s expectation that it will report certain minimum cash balances at the end of each quarter and the achievement of its quarterly cash balance goals, as well as SunPower’s expected reporting that it has set revenue and operating income records and that it is cash flow positive. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results, or cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on April 30, 2025, our quarterly reports on Form 10-Q filed with the SEC, and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise
| Company Contacts: | |
| Dan McCranie | Sioban Hickie |
| Board Member | VP Investor Relations |
| dan.mccranie@sunpower.com | IR@sunpower.com |
| (408) 930-2048 | (801) 515-8727 |
Source: SunPower
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/79c2b7de-998f-42e1-9005-4648b61fc2e2
This press release was published by a CLEAR® Verified individual.
FAQ
Who is the new CFO of SunPower (SPWR) announced February 5, 2026?
What key experience does SunPower say Wendell Laidley brings to SPWR?
What is Wendell Laidley’s first priority as SunPower CFO at SPWR?
How does SunPower describe Laidley’s prior impact in the solar industry (SPWR)?
