Eos Energy CFO steps down amid family health issues

Edison-based Eos Energy Enterprises announced that Randall Gonzales will be stepping away from his chief financial officer responsibilities into a corporate advisory role and will be succeeded by Nathan Kroeker. The change was effective Monday.

“Over the past 12 months, Randy has been a great business partner and key architect in Eos’ ability to scale and to deliver products to our customers,” Joe Mastrangelo, CEO of Eos, said. “In addition, he has been instrumental in the company’s diversification of the capital stack, including the $100 million senior secured term loan that closed in the third quarter of 2022, the up to $100 million at-the-market equity program and, most recently, the $13.75 million convertible note that was announced last week. Randy and I have been working over the past two months to find the right balance for him to spend more time with his family while continuing as our CFO. Sadly, we concluded that this was the best decision for Eos, and more importantly, Randy and his family.”

“Eos is a company with a bright future, and I believe that it is best for the company to have a CFO that is 100% focused on delivering company results,” Gonzales said. “I look forward to leading the CFO transition and continuing to work with the team in my new capacity.”

Kroeker brings 25 years of finance and energy industry experience. He spent 10 years at Spark Energy, starting as the CFO before eventually taking over as CEO in 2014. In 2014, Nathan led the IPO process at Spark Energy — the first independent retail energy company to successfully IPO on the Nasdaq. Kroeker began his career in public accounting with Coopers & Lybrand and Arthur Andersen, before moving into transaction advisory with Ernst & Young. In 2004, he left consulting for progressive finance roles at Direct Energy, a leading provider of energy and home/business services in North America. Kroeker began in energy trading and upstream then eventually became vice president, finance, and CFO of Direct Energy’s North American Mass Markets division in 2006. In 2009, he joined the Macquarie Bank as senior VP and CFO of its global energy trading business.

“I was attracted to this opportunity because of the foundation the team has built,” Kroeker said. “In my time talking to the team, I see a company poised for growth and can’t wait to roll-up my sleeves and get started.”

“We are excited to have Nathan joining our team. He brings extensive finance and operational experience to our team. We shouldn’t miss a step in executing our strategic growth plan,” Mastrangelo said.