Stem, Inc. (STEM), an AI-driven clean energy software and services company, announced Monday that John Carrington has stepped down as Chief Executive Officer (CEO) and as a member of the Board of Directors, effective immediately.
To ensure a smooth transition, Carrington will serve in an advisory capacity through December 31, 2024. Stem's Board, with assistance of an executive search firm, is conducting a search, which will include internal and external candidates, to identify a permanent CEO.
David Buzby, Executive Chair of the Company's Board of Directors, has been appointed interim CEO, effective immediately. The Company is concluding its previously announced strategy review and expects to publicly announce the outcome of its review in the coming weeks.
Buzby has been starting, building and investing in "impact" businesses for the last 33 years with an emphasis on renewable energy generation, energy storage/grid services, decarbonizing the built environment, recycling, carbon removal and lithium production.
He has also held senior executive roles in numerous companies, including Chairman, Chief Executive Officer, Chief Operating Officer and Chief Financial Officer.
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