🚀Redwood Materials' COO Chris Lister Retires Amid Restructuring
Your battery supply chain just got a lot more complicated
TL;DR
Redwood Materials' chief operating officer Chris Lister is leaving the company. This comes as Redwood tries to reduce layers of management and adapt to market changes.
Chris Lister, Redwood Materials' chief operating officer, is retiring. He's been with the company since late 2023 and was promoted to COO in 2024. The news follows recent layoffs, which affected around 10% of the workforce (approximately 135 employees). These cuts were part of a restructuring effort to support the company's growing energy storage business. Redwood has signed deals with Rivian and Crusoe to provide refurbished batteries for grid storage. This move is seen as an attempt to reduce layers of management at the company, which has expanded faster than needed in some areas.
Key Points
Chris Lister, Redwood Materials' COO, is retiring after being with the company since late 2023.
Around 10% of Redwood Materials' workforce (approximately 135 employees) was laid off recently as part of a restructuring effort.
Redwood has signed deals with Rivian and Crusoe to provide refurbished batteries for grid storage.
The company is trying to reduce layers of management at the company, which has expanded faster than needed in some areas.
Chris Lister will leave Redwood Materials on [date] after being promoted to COO in 2024.
Why It Matters
If you're working with battery suppliers or energy storage companies, pay attention. Redwood's restructuring efforts and deal-making may impact your business. The company's focus on grid storage could also influence the market for refurbished batteries.
Frequently Asked Questions
Why does this matter?
If you're working with battery suppliers or energy storage companies, pay attention. Redwood's restructuring efforts and deal-making may impact your business. The company's focus on grid storage could also influence the market for refurbished batteries.
What happened?
Redwood Materials' chief operating officer Chris Lister is leaving the company. This comes as Redwood tries to reduce layers of management and adapt to market changes.
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