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Altus Co-CEO Steps Down, Handing Over Full Helm Duties to Fellow Co-Founder; Utility Firm Reaffirms 2024 Outlook
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Altus Co-CEO Steps Down, Handing Over Full Helm Duties to Fellow Co-Founder; Utility Firm Reaffirms 2024 Outlook
Apr 29, 2024 9:10 AM

11:50 AM EDT, 04/29/2024 (MT Newswires) -- Altus Power ( AMPS ) co-chief executive officer Lars Norell stepped down on Friday, with co-founder Gregg Felton continuing as sole CEO at the electric utility and assuming of all of Norell's former responsibilities, the company said on Monday.

Prior to forming Altus with Norell in 2013, Felton was a partner of Goldman Sachs (GS) and the chief investment officer of its credit alternatives platform beginning in 2006.

Altus on Monday also said it was reaffirming its 2024 outlook looking for $200 million to $222 million in operating revenue and adjusted EBITDA in a range of $115 million to $135 million this year ahead of its first-ever Investor Day event on May 14.

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