Uplight is undergoing a leadership transition spurred by a new strategic investment from Octopus Energy Group and Schneider Electric. The CEO, Luis D’Acosta, plans to step down on March 31, handing the reins to incoming leaders who will guide the company’s growth.
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Mergers and Acquisitions
Uplight Announces Leadership Transition Following Strategic Investment to Accelerate Customer-Driven Grid Reliability
Photo by Benzinga
Key Takeaways:
- Recent strategic investment from Octopus Energy Group and Schneider Electric
- CEO Luis D’Acosta steps down after three years to join Schneider Electric in Mexico & Central America
- Chief Growth Officer Hannah Bascom becomes General Manager on April 1
- Upcoming CEO to be appointed from the Octopus Energy executive team
- Estelle Monod appointed as Executive Chair of Uplight’s Board
Background on Investment
Uplight recently secured a strategic investment from Octopus Energy Group and Schneider Electric, a move that sets the stage for key leadership changes focused on enhancing reliability and driving the company’s next phase of growth. This additional funding is poised to strengthen Uplight’s mission of delivering customer-driven solutions for the modern electric grid.
Leadership Changes
Luis D’Acosta, who has served as Chief Executive Officer of Uplight for three years, will officially step down effective March 31. He will then assume a new leadership position as President of Schneider Electric Mexico & Central America.
Effective April 1, Uplight’s Chief Growth Officer, Hannah Bascom, will step into the role of General Manager. Bascom’s appointment marks the start of a broader transition to new leadership. A member of the Octopus Energy executive team is expected to join Uplight as its next CEO once the formal close of the investment is complete.
Board Leadership
The company also announced that Estelle Monod, a Schneider Electric executive with more than 20 years of experience in mergers and acquisitions, strategy, and operations, will serve as Executive Chair of Uplight’s Board of Directors. Monod has been an active participant on Uplight’s Board for two years, supporting business strategy and the company’s M&A activities.
Looking Ahead
These leadership transitions underscore Uplight’s goal of accelerating growth in the evolving energy sector. With the resources and guidance provided by both Octopus Energy Group and Schneider Electric, Uplight aims to drive customer-centered grid reliability. Observers are watching closely as the company prepares for its next phase of expansion under its newly established executive team.
