CEO and CFO suddenly depart AI nuclear power upstart Fermi
TechCrunch • • business
Key Points:
- Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson have abruptly left the AI nuclear power company, causing shares to drop 22% on Monday.
- Neugebauer stepped down as chairman but remains on the board, with Lead Independent Board Director Marius Haas taking over as chairman.
- Everson has been appointed as a board director through director designation rights held by the Melissa A. Neugebauer 2020 Trust.
- Fermi, co-founded by former U.S. Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, powered by nuclear reactors, known as Project Matador.
- The Project Matador campus has faced challenges recently, including reported tensions with a key customer, Bloomberg.
