Richard Thompson
About Richard Thompson
Independent director at Spring Valley Acquisition Corp. II (SVII); age 74; served on SVII’s board since the effective date of the IPO registration statement. Thompson is the Audit Committee Chair and designated audit committee financial expert, with 35+ years in renewable energy, power electronics and semiconductors, including multiple billion‑dollar exits and CFO/CEO roles at publicly traded companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Power‑One, Inc. (Nasdaq: PWER) | President, CEO, Director | 2008–Oct 2013 | Led restructuring; grew renewable inverters to >$1B sales (2012); sold to ABB for >$1B equity value |
| American Power Conversion (Nasdaq: APCC) | Chief Financial Officer | 2005–2007 | Sold to Schneider Electric for ~$6B EV in Mar 2007 |
| Artesyn Technologies (Nasdaq: ATSN) | Chief Financial Officer; GM, Spider Software | 1997–2005 | Built leading power components; later sold to Emerson for $500M |
| AVI‑SPL (private) | Executive Chairman | 2014–2016 | Global leader in video communications (~$700M revenue) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sumeru Equity Partners | Strategic Adviser | Since 2014 | Technology-focused private equity |
| Spring Valley Acquisition Corp. I | Director | Inception (Nov 2020) – NuScale merger (May 2022) | Served until de‑SPAC closing |
Board Governance
- Committee assignments: Audit Committee (Chair); members include Thompson, David Buzby, and Sharon Youngblood .
- Audit committee financial expert: Thompson qualifies under SEC rules .
- Independence: Board determined Thompson (and Buzby, Levinson, Youngblood) are independent under Nasdaq standards; independent directors hold regular sessions .
- Years of service: Director since the IPO registration effective date (2022) .
Fixed Compensation
- Annual retainer, committee/meeting fees: Not disclosed in reviewed proxies (EGM-focused filings) .
- Note: In connection with the IPO, SVII issued 7,666,667 Founder Shares (7,546,667 to the Sponsor; 120,000 to certain directors), which may align director incentives but are separate from cash retainers .
Performance Compensation
- Equity awards (RSUs/PSUs), options, performance metrics, vesting schedules: Not disclosed for directors in the reviewed materials .
- Sponsor founder share vesting terms were amended (Letter Agreement Amendment) to incentivize additional working capital funding in connection with extensions; this relates to Sponsor economics, not specific director performance pay .
Other Directorships & Interlocks
| Company | Capacity | Status | Potential Interlock/Notes |
|---|---|---|---|
| Spring Valley Acquisition Corp. I | Director | Former | Prior SPAC role in same sponsor ecosystem; transitioned at NuScale merger closing |
| Power‑One, Inc. | Director (and CEO) | Former | Industry/operator overlap; not a current interlock |
Expertise & Qualifications
- Renewable energy and power electronics executive leadership with successful restructurings and exits (ABB, Schneider, Emerson transactions) .
- Finance expertise as CFO across multiple public companies; designated audit committee financial expert .
- Strategic advisory experience in PE (Sumeru) .
Equity Ownership
- Beneficial ownership (ordinary shares) recorded at EGM record dates:
| Metric | Oct 7, 2024 (Record) | Sep 19, 2025 (Record) |
|---|---|---|
| Shares Beneficially Owned | 40,000 | 40,000 |
| Approximate % Outstanding | <1% | <1% |
| Total Ordinary Shares Outstanding | 22,304,433 | 9,880,096 |
| Notes | Founder shares allocated to certain directors totaled 120,000 at IPO (indicative of 40,000 per director) | Founder shares carry voting rights; Sponsor and advisors intend to vote for extension proposals |
Governance Assessment
- Strengths:
- Independent director; Audit Chair; audit financial expert designation improves oversight of financial reporting and controls .
- Deep operator/CFO experience across public companies; M&A and restructuring track record supports board effectiveness during de‑SPAC and target diligence .
- Alignment:
- Holds 40,000 founder/ordinary shares (<1%), providing some alignment; broader director allocation of founder shares suggests baseline equity exposure .
- Risks and potential conflicts:
- Sponsor control: Sponsor holds 7,546,667 Founder Shares (76.4% of outstanding in 2025; lower % in 2024 before redemptions) and may purchase public shares prior to votes, potentially influencing outcomes; insiders intend to vote for extension proposals .
- Listing risk: Company disclosed expected Nasdaq delisting for not completing a business combination within 36 months per SPAC rules; delisting would impair liquidity and could hinder the Transaction—elevated governance/stewardship demands on Audit Chair amid market structure changes .
- Structural changes: Letter Agreement amendment modified founder-share vesting to incentivize Sponsor funding, shifting compensation economics toward Sponsor; monitoring for fairness and investor alignment advisable .
- Redemptions and trust shrinkage materially change ownership concentration and may amplify Sponsor/insider influence post‑EGMs .
RED FLAGS: Sponsor voting power and capacity to buy public shares around votes ; expected Nasdaq delisting risk disclosure ; high redemption levels reducing float/liquidity .