OREM, Utah, July 07, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. ("SunPower," the "Company," or Nasdaq: "SPWR"), a solar technology, services, and installation company today announced the appointment of Tom Kowalczuk as Chief Financial Officer, reporting to SunPower Chairman and CEO T.J. Rodgers.

T.J. Rodgers said, "We are growing by acquisition, using a disciplined stage-gate integration process that has been used at three companies, starting with Cypress Semiconductor. Our requirements for the new CFO were therefore not only to be a leader who can instill the rigorous financial processes SunPower obviously needs, but also to manage finance integration during acquisitions. Tom Kowalczuk has done both. One primary reason I chose Tom is because I have worked with him for two years during his successful tenure as the CFO of Bespoken, a Lexington, Kentucky startup on whose board I sit.

Tom Kowalczuk Appointed SunPower CFO

Tom Kowalczuk, SunPower CFO

Rodgers continued, "Tom received his MBA at the University of Chicago after receiving a double major from Northeastern Illinois in accounting and finance. He is also a certified public accountant. He spent the last 15 years at various positions at Beam Suntory, a public company, working his way up from SOX accountant to lead the finance group that supported a manufacturing operation with more than $2 billion in annual revenue. Most recently, as CFO of Bespoken Spirits, he led a significant financial transformation, doubling revenue, while cutting operating expenses by half and reducing cash burn. I believe he is now ready for his opportunity to become the CFO of a public company."

Tom Kowalczuk said, "I joined SunPower because I saw an opportunity to help build something special. SunPower is one of the oldest names in solar, dating back to 1985. Its original founder/CEO, Dick Swanson and Chairman, T.J. Rodgers were both long-gone when the company filed for Chapter 11 bankruptcy in 2024. Now they are both rebuilding the company. I have the opportunity to rebuild the financial team.

Kowalczuk continued, "Throughout my career, I've enjoyed developing high-performing finance teams and helping businesses navigate periods of transformation and growth – and that's exactly the opportunity I see here. My focus is on building a world-class finance organization that delivers timely and accurate reports, streamlines financial operations, strengthens internal controls, and serves as a strategic partner to the business. Finance should do more than report results. It should help the business operate more efficiently, support growth, and create strategic value. By creating one set of numbers, one disciplined close process, and one financial operating model, we can give the entire organization the visibility, accountability, and financial discipline needed to execute with confidence and create long-term value for our customers, employees, and shareholders."

About SunPower

SunPower Inc. (NASDAQ:SPWR) is a leading residential solar services provider in North America. The Company’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.sunpower.com.

Forward Looking Statements

This press release contains forward-looking statements, including statements concerning the equity for interest exchange and related impacts of the transactions. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "seek," "plan," "project," "target," "looking ahead," "look to," "move into," and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent SunPower’s current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing SunPower’s estimates as of any subsequent date. Forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to market risks, trends and conditions. These risks are not exhaustive. For additional information on these risks and uncertainties and other potential factors that could cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of our annual report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on April 14, 2026, our quarterly reports on Form 10-Q filed with the SEC, and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:

Sioban Hickie

VP Investor Relations

IR@sunpower.com

(801) 515-8727

Source: SunPower Inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/174deb0b-1e23-460a-be44-4b366ae88586