SolarEdge Technologies Inc. (Nasdaq: SEDG) founder Guy Sella, 54, has died. Sella served as the Israeli solar energy technology company's CEO and co-chairman until last week when it was announced that he was taking leave of absence due to health reasons. Two years ago it was announced that Sella was suffering from colon cancer.
EVP Global Sales Zvi Lando was appointed to serve as Acting CEO last week and Nadav Zafrir, cybersecurity think-tank and fund Team8 founder and former Commander of the IDF's Technology & Intelligence Unit 8200, was appointed co-chairman.
Sella served in the technology unit of the Israel Defense Forces Intelligence Corps and was a partner at the Star Ventures venture capital fund before founding SolarEdge in 2006.
SolarEdge issued the following statement, "It is with a very heavy and sad heart that we notify of the passing of our dear friend and inspiration, Guy Sella. All of us who had the privilege to work with Guy and be witness to his unwavering drive and infinite levels of energy and passion for what he did know what a huge loss this is, not only to SolarEdge. Guy has left an incredible legacy and his spirit will live on forever in SolarEdge. The entire SolarEdge family mourns his loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Guy’s family."
SolarEdge develops and supplies systems for optimizing and monitoring solar energy. The company's share price fell 1.39% on Friday to $80.90, giving a market cap of $3.881 billion.
Published by Globes, Israel business news - en.globes.co.il - on August 25, 2019
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