The chief executive officer (CEO) and chief financial officer (CFO) of energy storage technology provider Fluence have both left the company.
Announced Monday (2 November), the Nasdaq-listed battery energy storage system (BESS) technology and energy services company has appointed interim CEO Axel Meier to replace the outgoing Julian Nebreda.
CFO Ahmed Pasha’s interim replacement is Ricardo Roizen. Also stepping down is senior VP and chief customer success officer John Zahurancik, who is based in the US and is one of Fluence’s founding team.
“As I leave my role as CEO and President of Fluence, I do so with deep gratitude for the opportunity to have led this company and for everyone who supported me along the way,” Nebreda posted to LinkedIn.
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While an official company announcement did not carry any quotes from the outgoing executives, Fluence board chairman Herman Bulls gave the board’s thanks and appreciation for their efforts.
The company’s announcement referenced the “competitive strengths” of its product line and the US$6.4 billion backlog it reported in its most recent financial results release in August.
However, in that report, which covered the third quarter of Fluence’s financial year (ending 30 June 2026), the company said quarterly revenue was about US$90 million lower than expected. This was due to delays in ramping up manufacturing operations in the US, and its Q3 2026 adjusted EBITDA was US$ -29.3 million.
Then, just over a month later, Fluence revised its FY2026 guidance down by around US$600 million.
Issues at Fluence’s Houston, Texas, facility, which assembles HVAC and thermal management systems and opened in 2025, included “underperformance of the customised automated welding process, which is operating significantly below its targeted level,” Nebreda said in an impromptu call with analysts in mid-September. Roughly half of Fluence’s customer orders are in the US, according to previous statements from the company.
The new CEO and CFO have backgrounds with Fluence’s two main shareholders and founding companies, US power holding company AES Corporation and German engineering firm Siemens.
Interim CEO Axel Meier was previously the CFO of Siemens Smart Infrastructure but recently retired from the role. He has also served on the Fluence board of directors since 2020. Interim CGO Ricardo Roizen was CFO of AES Corporation Latin American subsidiary AES Andes.
In addition to announcing John Zahurancik’s replacement Herman Boos, who has operations and supply chain experience with tech companies including ABB and Siemens, Fluence said existing chief operating officer (COO) Bernerd de Santos will lead an “operational transformation” at the company.
A new Manufacturing and Operations Oversight Committee has been established. Fluence’s next financial results release is due 23 November.
