Vivint Replaces CEO Butterfield After SunEdison `Disruption'by
Vivint Solar Inc., the residential solar company that canceled its deal to be acquired by SunEdison Inc., has a new chief executive officer.
Greg Butterfield is stepping down and David Bywater, chief operating officer of Vivint Smart Home, was named interim CEO, Vivint said in a statement Monday. The company is also starting a search for a permanent CEO.
SunEdison’s proposed $1.9 billion acquisition of Vivint Solar collapsed in March. Vivint is now suing SunEdison, which filed for bankruptcy protection April 21. Vivint expects installations to increase in 2016 after the “disruption” of the pending deal caused construction and financing to flag.