Stem, Inc., a global leader in artificial intelligence (AI)-enabled clean energy software and services, announced that its Board of Directors has appointed Arun Narayanan as Stem’s new Chief Executive Officer, effective January 27, 2025. Additionally, David Buzby will step down as Interim CEO and Executive Chairman of the Board, effective January 27, 2025, and will remain Chair of the Board.
“On behalf of the Board and the Stem leadership team, I am thrilled to welcome Arun to Stem,” said David Buzby, Executive Chair and Interim CEO. “Throughout our search for a new CEO, we prioritized finding a leader with deep software expertise and a track record of transformative leadership to advance Stem’s software and services strategy forward and to drive scalable growth and enhance long-term profitability. Arun’s expertise in building and managing software driven enterprises rounds out an experienced management team that includes Doran Hole who recently joined as Executive Vice President and Chief Financial Officer bringing 25 years of relevant industry experience and financial discipline. Collectively, we now have a full team capable of taking advantage of the opportunity to build the leading AI powered energy software company.”
“I thank the Board for entrusting me to build upon Stem’s rich history of best-in-class execution and to advance the Company’s strategy,” said Mr. Narayanan. “I have always seen software as the catalyst in accelerating the clean energy transition and the key contributor to meeting our planet’s climate goals. I look forward to working alongside the talented team at Stem to accelerate progress on our go-to-market strategy, drive growth and innovation, and deliver exceptional software-driven value to our customers, partners, and investors, helping promote safe, sustainable, and resilient energy systems.”
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Mr. Narayanan is a seasoned business and digital leader with more than 25 years of expertise in software technology, operations, data and analytics, spanning industries such as oil and gas and renewable energy. His decades of experience at SLB (formerly Schlumberger) and Anglo American, building industry leading software for demanding global clients is a perfect complement to Stem’s vision and well-timed for this pivotal moment in the Company’s strategy and growth. Furthermore, Mr. Narayanan’s recent experience in the renewable energy industry sets the stage for a seamless entry as the leader and member of Stem’s strong executive management team.
Prior to joining Stem, Mr. Narayanan served as CEO of RES Digital Solutions, a division of RES, a global independent renewable energy company. In this role, Mr. Narayanan spearheaded innovation and led the development of cutting-edge software products and solutions, driving the digital transformation of the renewables sector. Prior to that, Mr. Narayanan was the Chief Data Officer of Anglo American, where he led the digital strategy to build its industry-leading data analytics platform, VOXEL.
Mr. Narayanan began his career at SLB, a Global Fortune 500 energy technology company, where, over his 21-year career, he held a range of software focused leadership positions and was ultimately responsible for defining and implementing software solutions as Vice President, Data & Analytics for Schlumberger’s Software division.
SOURCE: Businesswire