Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson suddenly left nuclear energy company AI, sending shares tumbling 22% on Monday.
The company stated that Neugebauer has resigned as president, although he remains on the board of directors. Marius Haas, the board’s lead independent director, has taken over as chairman, the the company said Monday. Everson has been elected as a director of the board as a result of the exercise of director appointment rights held by the Melissa A. Neugebauer 2020 Trust.
Fermi, which was co-founded by former U.S. Energy Secretary Rick Perry, is developing an artificial intelligence campus in Amarillo, Texas, that will eventually use nuclear reactors to power data centers. That campus, known as Project Matador, has had problems in recent months, including friction with a key client, Bloomberg reported.
The company prepared the exits, along with other plans that include a corporate headquarters in Dallas, such as Fermi 2.0 in an effort to signal to investors that he was still moving forward with his project.
