Redwood Materials loses COO amid 10% workforce cuts
Original: Redwood Materials loses COO amid layoffs, restructuring
Why This Matters
Executive exodus signals potential challenges at major battery recycling startup
Battery recycling company Redwood Materials' COO Chris Lister retired amid restructuring that cut 135 employees (10% of workforce). Multiple executives departed recently as company shifts focus to energy storage business with new deals.
Redwood Materials COO Chris Lister retired after joining in late 2023 as chief supply chain officer and being promoted to COO in 2024. The former Tesla Nevada Gigafactory VP's departure follows recent 10% workforce cuts affecting 135 employees. CEO JB Straubel told staff the restructuring supports growing energy storage business, with new deals signed with Rivian and AI company Crusoe for refurbished battery grid storage. Other recent executive departures include VP of integrated supply chain Bradley Mayhew, VP of mechanical engineering Guillermo Urquiza, and VP of manufacturing Carlos Lozano who joined Panasonic.