SolarEdge Technologies (NASDAQ:SEDG) has disclosed significant changes in its executive leadership, following the notification by Ronen Faier to the board of directors on June 5, 2024, about his intention to retire as Chief Financial Officer.

Mr. Faier's retirement will be finalized on a mutually agreed date after an approximately three-month transition period.

In preparation for this transition, the Board has moved swiftly to secure leadership continuity by appointing Mr. Ariel Porat as Senior Vice President, Finance, effective June 7, 2024.

It is anticipated that Mr. Porat will succeed Mr. Faier as Chief Financial Officer upon the latter’s retirement, pending final approval and appointment by the board.

Mr. Porat, aged 40, brings a wealth of experience to SolarEdge Technologies.

He joins from Siemens Energy, where he served as the head of the Europe Region from April 2021 to April 2024.