In Kyu Park
NextDecadeAbout In Kyu Park
Independent director appointed July 29, 2025; age 44. Nearly 15 years of experience across Hanwha Group portfolio companies with operational and planning expertise in solar, retail energy, and clean power. Current roles include Chief Strategy Officer at 174 Power Global (since Jan 2025) and Chief Executive Officer of Chariot Energy (since Nov 2022). Education: BA in International Relations and Economics from Johns Hopkins University; Master’s in Environmental Policy and Energy Security from Columbia University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hanwha QCells | Planning, operations, and talent acquisition roles | Feb 2011–Nov 2022 | Operational and planning leadership across solar manufacturing and clean tech initiatives |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| 174 Power Global | Chief Strategy Officer | Jan 2025–Present | Strategy for utility-scale solar, storage, and clean energy development across North America |
| Chariot Energy | Chief Executive Officer | Nov 2022–Present | Leads Texas retail energy business; solar and conventional energy focus |
Board Governance
- Appointment and class: Appointed as a Class B director to fill the vacancy created by Timothy Wyatt’s resignation; serves until the 2026 annual meeting and will stand for election at that meeting .
- Designating shareholder: Nominated by HGC NEXT INV LLC (Hanwha affiliate) under the Purchaser Rights Agreement dated August 3, 2018; HGC retains designation and replacement rights for its designee directors .
- Committee assignments: Construction and Operations Committee; Finance Committee. No chair roles disclosed for Park .
- Independence status: Not yet disclosed in the 2025 proxy; prior proxies affirmed independence of other Hanwha-nominated directors (e.g., Ha and Wyatt) under Nasdaq rules, but Park’s determination is not stated in available filings .
- Board/committee cadence context: Audit Committee met six times in 2024; no attendance data for Park (joined in 2H 2025). No per-meeting fees for directors .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Expense reimbursement | — | As a director nominated pursuant to an agreement with the Company, Park is entitled to reimbursement of reasonable out-of-pocket expenses for attending Board and committee meetings . |
| Annual cash retainer | Not applicable | At-large director retainer increased to $100,000 effective Jan 1, 2024; Park is a designee, not an At-large director; policy applies to At-large directors only . |
| Committee chair fees | Not applicable | Chairs: $15,000 per committee; $20,000 for Audit; Park is not disclosed as a chair . |
| Meeting fees | $0 | Company does not pay per-meeting fees . |
Performance Compensation
| Instrument | Grant Value | Shares/Units | Vesting | Performance Metrics |
|---|---|---|---|---|
| Restricted stock (director annual grant) | Not applicable | — | — | Director grants for At-large directors vest time-based (first anniversary for 2024 grants); no performance metrics disclosed. Park, as a designee, is not in the At-large program . |
Other Directorships & Interlocks
| Company | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships disclosed for Park in appointment 8-K . |
- Significant shareholder affiliation: Hanwha Group Entities beneficially own ~22.5% of Common Stock; Park is senior executive at Hanwha-affiliated companies and an HGC designee—potential related-party influence and board interlock risk .
- Purchaser Rights Agreement: Provides Hanwha’s HGC with designation and removal rights for its board seat, which can impact board independence dynamics .
Expertise & Qualifications
- Energy sector operating experience (solar manufacturing, clean energy development, retail energy) .
- Strategy, planning, and operations leadership across Hanwha Group portfolio companies .
- Academic credentials in economics, international relations, environmental policy, and energy security .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | Not disclosed | Park appointed after the April 17, 2025 ownership cutoff in the proxy; no director-specific ownership data available . |
| Ownership guidelines applicability | Not applicable | Stock ownership policy applies to At-large directors (5× cash retainer), extended to five-year compliance period effective Jan 1, 2024; Park is a designee, not At-large . |
| Pledging/hedging | Not disclosed | No disclosures specific to Park. |
Governance Assessment
- Strengths: Deep operational background in energy; placement on Construction & Operations and Finance Committees aligns with skill set; appointment fills vacancy promptly, maintaining Board capacity .
- Independence considerations: Park’s employment at Hanwha affiliates and designation by HGC signal potential conflicts—especially given Hanwha’s 22.5% ownership and formal board representation rights. Independence status for Park has not been explicitly determined in filings to date .
- Compensation alignment: As a designee, Park receives expense reimbursement only, avoiding typical cash/equity director pay—reduces pay-related conflicts but may limit direct equity alignment relative to At-large directors .
- RED FLAGS:
- Significant shareholder designee with formal designation/removal rights under Purchaser Rights Agreement—risk to board independence optics .
- Related-party exposure: Hanwha is a major shareholder and Park is senior executive at Hanwha-controlled entities; monitor for transactions between NEXT and Hanwha affiliates (none specifically disclosed here) .
- Shareholder sentiment context: 2025 say‑on‑pay support 89.7% (For: 189,733,968; Against: 22,626,202; Abstain: 245,380), indicating overall investor acceptance of pay program; not directly tied to director comp but informs governance confidence .