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ALBUQUERQUE, NM – Array Technologies, Inc. (NASDAQ:ARRY), a player in the manufacturing industries sector, announced today that board member Paulo Almirante will not seek re-election at the upcoming 2025 Annual Meeting of Stockholders. The meeting is scheduled for approximately May 20, 2025. The announcement comes as the company approaches its next earnings release on February 27, with its stock currently trading at $6.59, down about 52% over the past year.
Almirante’s departure was confirmed in a Form 8-K filing with the Securities and Exchange Commission. According to the document, his term will conclude effectively with the annual meeting. The company stated that his decision to leave the board was not due to any disagreements regarding operations, policies, or practices of Array Technologies. The company maintains a healthy liquidity position with a current ratio of 2.41, indicating strong ability to meet short-term obligations.
Array Technologies, headquartered in Albuquerque, New Mexico, specializes in the miscellaneous manufacturing industries. The company operates under the legal jurisdiction of Delaware, with a fiscal year ending on December 31.
The announcement comes as part of the regular disclosures Array Technologies is required to make as a publicly-traded company. The information in this article is based on the latest SEC filing by Array Technologies.
In other recent news, ARRAY Technologies has made significant leadership changes by appointing H. Keith Jennings as its Chief Financial Officer and Gina Gunning as its Chief Legal Officer. Jennings, who will assume his role in January 2025, brings over 30 years of experience in corporate finance and strategic growth initiatives. His previous roles include executive positions at Weatherford International (NASDAQ:WFRD), where he played a crucial part in the company’s financial restructuring. Meanwhile, Gunning, who has already commenced her role, brings over 25 years of experience in legal and compliance from various global organizations. Her past positions include Chief Legal Officer at GrafTech International (NYSE:EAF) Ltd., where she managed global litigation and arbitrations. Both appointments are part of ARRAY’s ongoing efforts to enhance its leadership team to support its growth and innovation in renewable energy. CEO Kevin G. Hostetler expressed confidence in both Jennings and Gunning, highlighting their expertise as vital to the company’s objectives. These leadership changes reflect ARRAY’s commitment to strategic growth and the global transition to sustainable energy.
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