People Moves: Energy Vault appoints Jan Kees van Gaalen as Chief Financial Officer

Press Release - Energy Vault Holdings, Inc. (NYSE: NRGV), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Jan Kees van Gaalen as Chief Financial Officer. Mr. van Gaalen will replace David Hitchcock, who has served as interim-Chief Financial Officer since April 2022. The appointment as CFO is effective November 16, 2022. Mr. Hitchcock will remain as an advisor to Energy Vault through December 31, 2022.

"I am pleased to welcome Jan Kees, a highly accomplished global CFO, who has served in that capacity at five public companies and brings extensive operational finance, treasury, M&A and capital markets experience as we execute on our growth strategy," said Robert Piconi, Chairman, Co-Founder and CEO, Energy Vault. "I want to thank David Hitchcock who has played an important role over the last six months in building the finance organization while standardizing our financial management and reporting processes as we became a public company earlier this year."

"I am thrilled to join Energy Vault during this pivotal time as the Company begins multi-GW hour deployments of their leading energy storage solutions across three continents," said Jan Kees van Gaalen, Chief Financial Officer, Energy Vault. "I look forward to leading a robust finance function and assisting the Company through this significant growth phase."

Mr. van Gaalen served as interim CFO at OneSpan, a publicly held digital agreements security software company from October 2021 until September 2022. Previously, he was CFO of C&J Energy Services, a large provider of oilfield services to leading energy companies with $2 billion in revenue. He helped lead the way in transforming the finance and IT functions of the business and helped execute a $450 million revolving facility before industry consolidation led to a merger with Keane Group, Inc. in 2019.

Prior to C&J, Mr. van Gaalen was CFO of Kennametal, a leading global provider of metalworking products and tools with $2.5 billion in revenue and approximately 12,700 employees. He helped develop and execute an $80 million SG&A cost reduction plan, and helped define a $200-$300 million modernization plan for the manufacturing facilities.

Mr. van Gaalen graduated with a Bachelor's Degree in Economics from Erasmus University Rotterdam and received his MBA in Finance from the HEC School of Management in Paris.

Source: Business Wire


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