Bloom Energy Appoints Stanford’s Michael Boskin and Former GE CEO Jeff Immelt to Board of Directors
Commenting on these appointments, KR Sridhar, Founder, Chairman, and CEO of Bloom Energy said, Jeff and Michael are both amazing leaders with strong global energy experience and they will add important perspectives on the Board.
Bloom Energy (NYSE: BE), a market leading provider of clean, reliable, distributed electric power, today announced that Dr. Michael J. Boskin, the Tully M. Friedman Professor of Economics and Wohlford Family Senior Fellow at Stanford University’s Hoover Institution, and Jeffrey Immelt, former Chairman and CEO of GE (NYSE: GE) and current Venture Partner of New Enterprise Associates, will join the company’s Board of Directors, effective November 12, 2019. At that time, the Board will expand from eight to 10 directors.
In addition to his role at Stanford’s Hoover Institute, where he has been on the faculty since 1971, Dr. Boskin is also a research associate at the National Bureau of Economic Research. He served as Chairman of President H.W. Bush’s Council of Economic Advisors from 1989-1993 and on Ronald Reagan’s Tax Policy Task Force during his presidential campaign. Dr. Boskin later chaired the blue-ribbon Commission on the Consumer Price Index, which changed the way government statistical agencies around the world measure inflation, productivity and GDP. He is also CEO and President of the consulting firm Boskin & Co., Inc. Dr. Boskin currently serves on the board of directors of Oracle Corporation (NYSE: ORCL) and previously served on several boards including Exxon Mobil Corporation (NYSE: XOM) and Vodfone Group plc (NASDAQ: VOD).
During his more than 16-year tenure as CEO of GE, Mr. Immelt revamped its strategy, global footprint, workforce and culture, resulting in a simpler, stronger, and more focused company. He led transformations that re-established GE’s market leadership, grew a strong share position in essential industries, doubled industrial earnings and reshaped the company’s portfolio. Barron’s named Immelt one of the “World’s Best CEOs” three times, and while he was at the helm of GE, Fortune dubbed it “America’s Most Admired Company.” Mr. Immelt currently serves on the board of directors of Twilio (NYSE: TWLO).
Commenting on these appointments, KR Sridhar, Founder, Chairman, and CEO of Bloom Energy said, “Jeff and Michael are both amazing leaders with strong global energy experience and they will add important perspectives on the Board. Michael has been involved in numerous major economic policy issues and has deep governance and oversight expertise through his service on several public company boards. Jeff brings significant knowledge of the global power markets and deep customer connections, as well as invaluable experience as a transformational leader of a Fortune 500 company. Michael and Jeff both know Bloom well and strongly believe in our mission. We look forward to working with them as we continue to scale out our world-leading technology to supply clean, reliable and affordable energy.”
“Now more than ever, it’s clear that the world needs resilient and reliable energy that is clean and affordable,” said Mr. Immelt. “Having been in the energy industry for decades, I know what Bloom provides is incredibly unique, and I’m excited to join the Board and help KR and his team continue to execute on the mission.”
“It’s been a privilege to watch Bloom continue to drive needed change, disrupting a deeply entrenched industry,” said Dr. Boskin. “I’m committed to help the company continue to execute on its strategy and deliver value for customers and investors.”
Mr. Immelt will serve on the Audit Committee of the Board. Dr. Boskin will serve as a member of the Audit Committee and the Nominating, Governance and Public Policy Committee of the Board.
Mr. Immelt and Dr. Boskin will join a Bloom Energy Board that includes: John Chambers, Founder and CEO, JC2 Ventures; General Colin L. Powell USA (ret.), 65th U.S. Secretary of State; John Doerr, Chairman of Kleiner Perkins Caufield and Byers; Scott Sandell, Managing General partner of New Enterprise Associates; the Honorable Mary K. Bush, President of Bush International, LLC; Peter Teti of Alberta Investment Management Corporation; Eddy Zervigon, Special Advisor at Riverside Management Group; and KR Sridhar, Founder, Chairman and CEO of Bloom Energy.
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable, and affordable energy for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, ‘Always-On’ electric power that is clean and sustainable. Bloom’s customers include 25 of the Fortune 100 companies and leaders in cloud services and data centers, healthcare, retail, financial services, utilities, and many other industries. For more information, visit www.bloomenergy.com
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