SunEdison Appoints New Finance Team in Wake of Bankruptcy

Solar energy firm  SunEdison, Inc. announced in late June that it has appointed new leadership of its finance team, including Philip J. Gund, as Chief Financial Officer and Salvatore LoBiondo, Jr., as SVP, Corporate Controller, enhancing the Company’s financial operations as the Company moves through the Chapter 11 bankruptcy process.

Both individuals are experienced restructuring executives and senior managing directors with Ankura Consulting Group, LLC, a business advisory and expert services firm.  Their appointments were effective immediately.  

Gund is a senior managing director of Ankura Consulting Group, with more than 30 years of professional experience, including 26 years working with debtor companies, their creditors, investors, and court-appointed officials.  He recently served as Chief Restructuring Officer at Vivaro Corporation, one of the largest pre-paid phone card companies, and as Advisor to Infrastructure and Energy Alternatives, LLC, an alternative energy construction company.

 LoBiondo is a senior managing director of Ankura Consulting Group and has led complex restructurings with experience across diverse industries, often working in advisory and interim management roles, including Responsible Officer of LeNature’s, a beverage company, Chief Executive Officer of Friedman’s Jewelers, Interim Controller of MicroWarehouse, Inc., and Advisor to the Official Committee of Unsecured Creditors of Mirant America Generating Inc., an energy producer.

The company’s prior chief financial officer designee, Ilan Daskal, resigned from SunEdison on June 27.  The controller position has been open since the company’s commencement of the chapter 11 process. Both appointments follow last week’s naming of John S. Dubel as SunEdison’s Chief Executive Officer.  

SunEdison sought bankruptcy protection in April, listing more than $16 billion in debts. The company develops, finances, installs, owns and operates renewable power plants.

 

 

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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