SOLON, Ohio — Energy Focus, Inc. announced that Ms. Lesley Matt will join the company as its new Chief Executive Officer, effective September 12, 2022.
Matt spent over twelve years at TCP Lighting, helping grow the product portfolio of the Cleveland, Ohio-based company into one of the broadest in the lighting industry. She spent the last three years as Senior Vice President, with responsibilities for developing the organization, setting strategy and objectives for the sales team, P&L responsibility for multiple channels and product categories, and overseeing day-to-day operations. Prior to TCP Lighting, she had multiple roles in marketing and product management for software, advertising, and manufacturing companies.
Steve Socolof, Chairman of the Board of Energy Focus, commented, “We at Energy Focus are honored that Lesley chose to take the helm here as the next step in her ascent in the lighting industry. Lesley has demonstrated an ability to grow a lighting business successfully in a challenging, competitive environment. She understands the opportunity that Energy Focus offers to create a leading provider of high value, healthy lighting products across commercial and military markets. Our team and Board are excited to work with her.”
Matt commented, “I am confident in my ability to make Energy Focus a leading player in the industry. I believe my abilities to develop a vision, execute strategy, coach team members and be quick to a decision have been the driving forces in my success. I am thrilled to bring this skill set to my new team and am beyond excited to take this next step in my career.”
In connection with her appointment as Chief Executive Officer, the Board of Directors of Energy Focus approved an inducement award of stock options for Matt in accordance with Nasdaq Listing Rule 5635(c)(4). The award provides for the right to purchase up to 150,000 shares of common stock at an exercise price equal to the Company’s common stock closing price on the date of grant, will vest under substantially the same terms as the Company’s standard executive non-qualified option award agreement, and otherwise will be subject to substantially similar terms and conditions as those established under the Company’s amended and restated 2020 Stock Incentive Plan. Subject to the terms of the award agreement, one-fourth of the granted options will vest on the first anniversary of the grant date, and the remainder will vest in equal monthly installments thereafter over a three-year period.
Energy Focus Elects Lighting Industry Luminary Kaj den Daas as Board Member
Energy Focus, Inc. has announced that Mr. Kaj den Daas has been elected to its Board of Directors.
Mr. den Daas has more than 45 years of leadership experience globally in the lighting industry. He retired in 2009 as Executive Vice President of Philips Lighting B.V. of the Netherlands (a manufacturer of lighting fixtures and related components) and Chairman of its North American Lighting Operations. Mr. den Daas was responsible for oversight of the manufacturing, distribution, sales, and marketing of Philips products in the United States, Canada, and Mexico, with prior Philips experience in the Asia Pacific area. Since leaving Philips Lighting, Mr. den Daas has served on the board or management of several companies in the U.S., Europe, and Asia in the lighting industry. He was CEO of Quality Light Source until March 2018 when he transitioned into a non-executive position in the holding company QL Light Source Company Hong Kong Ltd. (manufacturer and marketer of LED lamps) in April 2018. He was also CEO of TCP International Holdings, Ltd. from July 2015 to October 2016.
Mr. den Daas is currently a director on the board of Valmont Industries, Inc., where he serves as the chair of the Audit Committee and a member of both the Nominating and Corporate Governance Committee and Environmental, Social and Governance Committee.
Mr. den Daas will join the Audit Committee of the Board, which will now be chaired by Brian Lagarto following Philip Politziner’s retirement.
Steve Socolof, Chairman, and Interim CEO of Energy Focus commented, “I am extremely excited to be able to recruit such an industry luminary as Kaj den Daas to our Board of Directors. Kaj will join Jeffrey Parker and Brian Lagarto, whose appointments were announced earlier this year, in bringing tremendous industry experience and network to the company. Kaj ran the largest lighting business in North America for years and knows the market as well as the vendors globally. I would also like to thank Phil Politziner for his service as our Audit Chair over the last couple of years. With his retirement, Brian Lagarto will step up to Chair, and Kaj den Daas will join the committee.”
Kaj den Daas commented, “I am honored to join the Energy Focus Board of Directors and I look forward to working with the Board and senior management towards profitable growth for the company.”