LEHI, Utah, Dec. 19, 2016 /PRNewswire/ -- Vivint
Solar (NYSE: VSLR), a leading full-service residential
solar provider, today announced that David Bywater has been appointed chief executive
officer of the company by the board of directors, effective
immediately. Bywater has been acting in the role of interim CEO of
Vivint Solar since May 2, 2016.
Having consulted with and helped run some of the world's most
innovative and dynamic companies, Bywater brings more than 20 years
of management experience to Vivint Solar.
"We strongly believe David is the best candidate for the CEO
position," said Peter Wallace,
chairman of the board. "He positions Vivint Solar to execute on its
tremendous opportunity to provide clean, affordable energy to
consumers."
As interim CEO of Vivint Solar, Bywater made significant gains
in driving efficiencies in the company's installation process,
rationalizing its cost basis and re-establishing closer
collaboration with Vivint Smart Home. He previously served as the
chief operating officer at Vivint Smart Home and was responsible
for customer operations, human resources, field service and supply
chain management for the largest smart home services provider
in North America, now serving more
than 1 million customers.
"I look forward to continuing to build upon Vivint Solar's
robust business in the emerging residential solar market with the
board, the management team, our partners and our talented team,"
Bywater said. "We will continue to focus on generating strong
growth predicated upon sound unit economics, while striving to
consistently delight our customers with the best-in-class
experience. As we seek to become the most sustainable residential
solar company in the industry, Vivint Solar is well positioned to
create added value for our shareholders and deliver upon its market
potential."
Prior to his role at Vivint Smart Home, Bywater served as an
executive vice president and corporate officer
for Xerox and was the chief operating officer of
its $1.8 billion State Government Services
Business. He spent 10 years working at Affiliated Computer
Services (ACS), one of the largest BPO and ITO companies in the
world. During his tenure with ACS, he was responsible for the
management of several business units, which encapsulated more than
60 different companies.
Bywater holds a Bachelor of Science degree in economics
from Brigham Young University and an MBA from Harvard
Business School.
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy –
electricity generated by a solar energy system installed at a
customer's location – to residential customers in the
United States. Vivint Solar's
customers pay little to no money upfront, receive significant
savings relative to utility generated electricity and continue to
benefit from guaranteed energy prices over the 20-year term of
their contracts. Vivint Solar finances, designs, installs, monitors
and services the solar energy systems for its customers. Vivint
Solar also provides solar energy systems for purchase. For more
information, visit www.vivintsolar.com or follow
@VivintSolar on Twitter.
Note on Forward-looking Statements
This press release contains forward-looking statements as
defined within the meaning of the federal securities laws,
including statements regarding Vivint Solar's growth, business
prospects and future success; the residential solar market; and
Vivint Solar's ability to create value for shareholders and deliver
upon its market potential. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot
be predicted or quantified. Forward-looking statements should not
be read as a guarantee of future performance or results, and they
will not necessarily be accurate indications of the times at, or
by, which such performance or results will be achieved, if at all.
These statements are based on current expectations and assumptions
regarding future events and business performance as of the date of
this press release, and they are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in or suggested by the forward-looking
statements, including but not limited to the risks set forth in the
registration statements and reports that Vivint Solar files with
the U.S. Securities and Exchange Commission, which are available on
the Investor Relations section of our website
at www.vivintsolar.com. Vivint Solar does not undertake
any obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future
developments or otherwise.
Press Contacts
Vivint Solar
Helen
Langan, Director of Public Relations
385-202-6577
pr@vivintsolar.com
Agency Contact
Ashlyn
Hewlett, Method Communications
801-461-9772
ashlyn@methodcommunications.com
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SOURCE Vivint Solar