Business
EVgo Announces Leadership Succession Plan
Cathy Zoi to Retire as CEO and from the Board of Directors, Effective in November 2023 Industry Veteran and Lead Independent Director, Badar Khan, to Become
About this update from Evgo Inc.
[{"type":"text","content":"\nCathy Zoi to Retire as CEO and from the Board of Directors, Effective in November 2023\n\n\nIndustry Veteran and Lead Independent Director, Badar Khan, to Become CEO\n\n\n LOS ANGELES--(BUSINESS WIRE)--\nEVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (“EVs”), today announced that its Board of Directors has appointed Badar Khan to succeed Cathy Zoi as Chief Executive Officer, effective on or about November 9, 2023. Zoi will retire as CEO and from the Board following an impactful career with EVgo where she oversaw a 957% increase in quarterly revenue since the Company went public in 2021. To promote a smooth transition, Zoi will serve as an advisor to the Company and work closely with Khan through the end of 2023.\n\n\n“Leading EVgo from a 50-person, private enterprise focused on a nascent EV sector, to a leader in charging solutions serving nearly 700,000 customers has been a highlight of my career,” said Zoi. “I set out to build a strong business yielding robust growth in charger deployments, network utilization, and company revenues, and as a team we have accomplished that. With the focus now being to build on that foundation to further scale EVgo to meet evolving fast charging demand, I believe that it is the right time to implement this leadership transition. I have been fortunate to know and work with Badar in his capacity as Lead Independent Director, and I’ve seen firsthand the breadth of his talents. I believe that Badar’s experience overseeing large, dynamic customer facing energy organizations aligns perfectly with the opportunity ahead of EVgo and that he is the right person to be our next CEO. I am delighted to continue working closely with Badar and my colleagues on the management team to promote a smooth transition. I am excited to see what is yet to come for EVgo.”\n\n\nDavid Nanus, Chair of the Board of Directors of EVgo, stated, “Badar’s impressive accomplishments have established him as a respected leader who is well-suited to build upon Cathy’s successes. Having worked closely with Badar on the EVgo Board, I know that he possesses a holistic understanding of the dynamics of our business and knows what it takes to win in the marketplace. He has more than 25 years of experience in the energy sector, including overseeing the dev...