Shine Solar of Rogers is flexing its expansion muscles, announcing the hiring of former Overstock.com CFO David Chidester as its first CFO adviser.
Chidester was among a handful of key executives who took the company public in 2002, raising more than $400 million in capital.
The addition was a testament to the rapid growth of Shine, which was started by brothers Nick and Caleb Gorden in 2016 and now operates in Arkansas, Oklahoma, Missouri and Tennessee, as one of the largest solar installers in the region.
A certified public accountant, Chidester is expected to play a crucial role “in the development of strategic planning and growth opportunities for the company,” Nick Gorden said in a company statement.
“After a lengthy and thorough vetting process, I’m thrilled that David will be joining Shine as our first CFO-level team member,” Gordon’s statement said. “David brings a level of accounting and financial sophistication, not to mention an impressive track record, that will put us on a path to nine-figure revenue in 2021.”
After Overstock, as senior vice president of finance at MediConnect Global in Utah, Chidester helped grow that business from a $25 million valuation to more than $100 million before it sold to Verisk Analytics in 2012 for $375 million. In his most recent job, Chidester has been investing in real estate and venture capital, focusing on early-stage tech companies.
“I am honored to begin working with Nick and the wonderful team at Shine Solar,” Chidester said in a news release. “They have amazing growth potential and bring a unique approach to the highly competitive residential solar industry.”
Chidester, who has an accounting degree and a master’s in business administration from the University of Utah, where he serves on the Accounting School’s advisory board, said he expects his financial background and experience to help Shine “continue their momentum and assist with their aggressive 2021 initiatives.”