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The Board of Directors (Board) at Competitive Power Ventures (CPV), a leading developer and operator of highly efficient, low emitting electric generation and renewable power in the United States, shared details of a planned leadership transition.

Effective January 1, 2025, the Board has promoted Sherman Knight, CPVs President and Chief Commercial Officer, to succeed Gary Lambert as the Companys Chief Executive Officer (CEO). Lambert, who co-founded CPV 25 years ago, will assume the role of Executive Vice Chairman of the Board.

Founding and serving as CEO of CPV has been the privilege of a lifetime. I remain committed to the Company and look forward to transitioning into the role of Executive Vice Chairman in January, said Lambert. I am confident the success we have built over the last 25 years will continue with Sherman stepping in as CEO. Ive been fortunate to have worked alongside Sherman for nearly two decades. Throughout that time Sherman has played a major role in our companys growth and has been a true thought leader at CPV. I am excited for the future of CPV.

I am grateful and humbled by the opportunity to lead CPV into the future, said Knight. I truly appreciate Garys vision and leadership over the past 25 years. Under Garys direction hes created a vibrant and enduring company that is helping lead the energy transition in the United States. I want to also extend my gratitude to the Board for its confidence in me to further advance CPVs strategy.

Lambert, in his new role as Executive Vice Chairman of the Board, will continue to work alongside Knight and CPV leadership to ensure the companys continued success.

CPV has added David K. Vickerman to its leadership team, serving as the companys new Chief Financial Officer (CFO). Vickerman is an industry veteran with a wealth of experience in corporate finance, project financing, and large-scale portfolio growth. His expertise and strategic mindset will help CPV as the company continues to expand its development pipeline and operating portfolio. Paul Buckovich whose tireless efforts and work over the last 23 years with CPV, most recently serving as CFO over the last 10 years, included the execution of some of the most innovative, complex financings for CPV, will assume the role of Executive Vice President of Finance. In this role, Buckovich will continue to lead the CPVs financing efforts.

The Board announced two additional changes, effective immediately, to CPVs leadership to ensure a stronger focus on two of the companys main business segments: Low Carbon Development and Renewables. Peter Podurgiel, currently the Executive Vice President of Project Development, where he oversees CPVs project development and energy transition strategy of low-carbon operations, was appointed to President of CPV Low Carbon Generation. In the new role, Podurgiel will continue to focus on the development, construction, and operation of new, decarbonized gas-fired generation. Sean Finnerty, currently the Executive Vice President of Renewable Power, was appointed to President of CPV Renewables and will oversee the companys existing renewable operational assets, strong development pipeline, and renewable construction. Both individuals joined the company shortly after it was founded and have since held various leadership roles helping to position CPV as an industry leader to answer energy market needs and ensure a reliable grid.

Both Peter and Sean have been part of CPV since just after its inception. Without their hard work, dedication to our mission, and industry expertise we would not have been able to grow the company into what it is today, said Lambert. Both are well-deserving of these promotions and will continue to help lead CPV into its next chapter while keeping the essence of who we are at the center.

CPV Group LP, a partnership majority owned by OPC Energy Ltd., has over two decades of unprecedented success in the development and operation of highly efficient and low emitting electric generation and renewable projects in the United States. CPV is focused on applying its development, financial and project management expertise to advance the next generation of technologies, including an extensive renewable pipeline, and dispatchable power projects that will utilize carbon capture technology, to yield extremely low carbon power that will help drive the nations decarbonization goals forward. For more information: please visit www.cpv.com and follow CPV on LinkedIn.

OPC Energy Ltd. (OPCE:Tel Aviv), is an energy company leading the Energy Transition revolution in Israel and the USA, and provides electricity in an efficient, reliable and environmentally friendly manner while combining solar energy, wind and natural gas with high efficiency. In Israel, OPC is the first and leading private electricity producer, offering its customers an integrated energy solution that includes the supply of all energy needs through the company's production sites and in the customer's yard using natural gas and solar energy, as well as charging electric vehicles. In the USA, the company operates through the CPV Group, which supplies electricity using efficient natural gas and wind energy, and also builds and develops Powerhouse using natural gas, natural gas with reduced emissions, as well as solar and wind energy. For more information: please visit www.opc-energy.com/en

Contact Details

Tom Rumsey

+1 240-281-3724

trumsey@cpv.com

Company Website

http://www.cpv.com

View source version on newsdirect.com: https://newsdirect.com/news/competitive-power-ventures-cpv-announces-leadership-changes-823868504

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