SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced that Zvi Lando has stepped down as SolarEdge’s Chief Executive Officer. The Company's Board of Directors has initiated a search for a new CEO with the support of a leading global executive search firm, and has appointed Ronen Faier, previously Chief Financial Officer, to serve as Interim Chief Executive Officer, effective today. Zvi Lando will remain a member of the Board of Directors. He will also serve as an advisor to the management team to support the leadership transition.

In conjunction with this transition and as part of the Company’s CFO transition plan, the Board of Directors has appointed Ariel Porat, formerly the Company’s Senior Vice President of Finance, to serve as Chief Financial Officer, effective today.

“On behalf of the Board, we are incredibly grateful for Zivi’s contributions as CEO over the past 5 years and for the 10 years prior as VP Global Sales,” said Nadav Zafrir, Chairman of the Board of Directors. “Zivi was instrumental in SolarEdge's growth into a world-class, global smart energy technology company. We are pleased that Zivi will remain a Board member and special advisor to the Company.”

“Following many years of service as the Company’s CFO, I am honored to lead SolarEdge in this transition period,” said Ronen Faier. “I would also like to thank Zivi, on behalf of SolarEdge and its employees, for his countless contributions, years of leadership, dedication, and friendship.”

“The road to a full recovery of SolarEdge is still ahead of us and to drive this recovery at a fast pace requires new energy and leadership,” said Lando. “As such, I have decided to resign from my position as CEO. I am confident the focus areas we have defined and the trajectory we are on will continue the improvement trend.”

About Ronen Faier

Mr. Ronen Faier joined SolarEdge in 2011 as our Chief Financial Officer and served as the General Manager of the SolarEdge Storage Division between 2019 and 2023. Prior to joining SolarEdge, Mr. Faier served from 2008 to 2010 as the Chief Financial Officer of modu Ltd, a privately owned Israeli company. Between 2004 and 2007, Mr. Faier held several senior finance positions, including Chief Financial Officer at Msystems prior to its acquisition by SanDisk Corporation in 2006.

Mr. Faier also serves as a member of the board at Monday.com and at Kaltura, Inc. He holds a CPA (Israel) license, an MBA (with Honors) from Tel Aviv University and a B.A. in Accounting and Economics from the Hebrew University in Jerusalem.

About Ariel Porat

Mr. Ariel Porat has more than a decade of leadership and finance experience in various industries and global corporations. Prior to joining SolarEdge as SVP Finance, he was Head of Europe Region for Siemens Energy. Prior to that position, Mr. Porat was CEO of Siemens Israel from 2020-2021, and prior to that served as the CFO of Siemens Israel from 2017-2020. Porat holds an MBA from INSEAD in France and a Bachelor’s degree in Industrial Engineering & Management from Tel Aviv University.