Heliogen Inc (HLGN)

[WeTheMarket]

Mr H, welcome to the Heliogen board. Relevant quotes from the following article, dated Feb 8, 2023.

https://www.bizjournals.com/losangeles/news/2023/02/07/heliogen-cfo-christie-obiaya-named-ceo.html

Renewable solar energy company Heliogen Inc. has a new leader in charge after its board of directors appointed Christie Obiaya as chief executive officer, following conflict with the company's founder and former CEO.

Gross announced his decision to step down as CEO to Heliogen's board last year, recommending an unidentified candidate from outside the company to step into the role of president before moving up to CEO after a six-month period, Gross said in his resignation letter to the board. Gross wrote that the board of directors approved and nominated his candidate, but senior management at Heliogen objected, as several members "threatened to quit." Gross said that the board supported the existing management team, promoting Obiaya.

In response, Heliogen's board of directors said in a statement that it did not nominate Gross' candidate during the process, determining that it was in Heliogen's "best interests" to promote a internal candidate that was "intimately familiar" with the company’s technology, customers and the board’s priorities.