GridPoint Announces Leadership Succession

Chief Operating Officer Derek Booth to Succeed Mark Danzenbaker as CEO

RESTON, Va., April 10, 2025 /PRNewswire/ -- GridPoint, a recognized leader in energy management technology that decarbonizes commercial buildings and unlocks excess grid capacity, today announced a leadership succession that continues to drive sustainable value for customers, investors, and employees while positioning the company for its next stage of growth. The Board has unanimously appointed Derek Booth, GridPoint's Chief Operating Officer, as the company's new Chief Executive Officer. Mark Danzenbaker will transition from his role as CEO and become an advisor to the Board of Directors. Mr. Danzenbaker will continue to work closely with Mr. Booth to ensure a seamless leadership transition.

"On behalf of the Board of Directors, I wish to thank Mark for his outstanding leadership and commitment to GridPoint during the past 15 years, and especially the last nine years during which he served as our CEO," said Peter Corsell, GridPoint Chairman and Founder. Under Mark's guidance, the company successfully adopted a subscription-based sales model which has unlocked significant value for our customers and fueled years of growth for our shareholders."

Mr. Corsell continued, "Derek shares the same unwavering commitment to excellence that Mark fostered and has played a pivotal role in charting GridPoint's growth trajectory. Derek's deep understanding of our industry, technology, operations, culture, and strong customer relationships makes him the right leader to continue advancing the company's strategy and driving value for customers and shareholders."

Incoming CEO Derek Booth said, "This is an exciting time in the company's history. We are committed to advancing GridPoint's vision as a leading technology company that generates value for commercial buildings and electric utilities at the edge of the grid. We are executing our growth plan by focusing on expanding our platform capabilities and providing world-class customer service. Mark's leadership during the past decade has been instrumental in building GridPoint into an industry leader. As we enter this next chapter, I look forward to working with Mark to ensure a seamless transition for all our stakeholders and I thank him for his partnership. I am honored to lead GridPoint's exceptional and dedicated team and I am excited to share my vision for our company's future."

Reflecting on his tenure, Mr. Danzenbaker commented, "It has been an honor and a privilege to lead GridPoint during the past decade and to work with our incredible team to transform the company into the market leader it is today. I am incredibly proud of the achievements we have accomplished together and the work we've done for our customers and shareholders. This transition is the result of a thoughtful planning process, and I have full confidence that Derek is the right leader to guide our company as it continues its mission to accelerate the energy transition into the future."

About Derek Booth

Derek Booth joined GridPoint's leadership team in early 2024 after a 16-year career at Johnson Controls, where he held various leadership positions within JCI Building Solutions focusing on business transformation and delivery execution across North America.

Since joining GridPoint, Mr. Booth has been instrumental in transforming the company's post-sale customer experience during a period of rapid growth. As Chief Operating Officer, he currently oversees Platform Delivery, Customer Success, Energy Advisory, Support and Service, Business Operations, and Supply Chain.

Throughout his career, Mr. Booth has demonstrated an exceptional track record of revenue growth, margin expansion, operational efficiency, and customer satisfaction. His steadfast commitment to excellence and his ability to inspire colleagues align perfectly with GridPoint's mission and values.

Prior to his time at Johnson Controls, Mr. Booth worked for nine years at Suburban Propane, where he served in a variety of management positions. Mr. Booth holds a BA from Rutgers University.

About GridPoint

GridPoint is a recognized leader in energy management technology that decarbonizes commercial buildings and drives grid modernization. GridPoint's technology platform is deployed in 20,000+ commercial buildings across multiple industries, optimizing energy and sustainability goals for commercial enterprises and electric utilities at the same time. GridPoint's platform leverages data analytics, machine learning, and intelligent automation to deliver unprecedented visibility into complex building operations, reducing energy costs, maximizing decarbonization, and increasing resiliency – building by building. Networked together, buildings with GridPoint Intelligence™ aggregate the reliable and instantaneous capacity that power grids increasingly require. GridPoint's intelligent energy network of buildings is driving grid modernization and accelerating the transition to a sustainable energy future. For more information, visit www.gridpoint.com.

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SOURCE GridPoint, Inc.