Spark Power names senior leadership team

Spark Power Group Inc. on announced senior leadership changes the company said will help to flatten its structure and move the organization toward an operating model prioritizing field efforts and customer service.

The latest announcements follow the Jan. 5 appointment of Richard Jackson as president and CEO, replacing co-CEOs Jason Sparaga and Andrew Clark, who will remain board members and major shareholders.

On Jan. 29, Dan Ardila was named executive vice president and CFO, and co-founder Eric Waxman as chief investment officer. Sparaga will work closely with Waxman as the new executive board chair to focus on M&A, corporate finance and supporting the special board committee for the strategic review, according to a news release.

Additionally, Spark Power named Roland Van Olst executive vice president of the eastern Canada region; Cody Zaitsoff executive vice president of the U.S. and western Canada region; Grayson Swan executive vice president of renewable energy; Sean Drygas vice president of sales, marketing, strategy and sustainability; Morgan Cowl vice president of operations; Najlaa Rauf vice president of people and culture; Courtney Quinn vice president of finance; and Michael Mah vice president of information technology.

Spark Power expects the moves to reduce ancillary non-personnel-related costs, and selling, general, and administration, or SG&A, costs by C$5.0 million to C$6.0 million in fiscal 2021. The company also expects to incur severance-related costs of C$2.1 million.

"We believe that the optimal level of SG&A costs required to effectively support our existing business and growth plans is between 15% to 18% of revenue," said CFO Ardila. "These changes will put us on track to realize this goal based on our expectations for fiscal 2021."