Sunnova CEO Steps Down in Wake of Going-Concern Warning (1)

Sunnova Energy International Inc. said John Berger stepped down as chief executive officer, a week after the residential rooftop solar company warned there’s substantial doubt it will remain in business. The company’s shares surged.

The Houston-based company named Paul Mathews, formerly the company’s chief operating officer, to succeed Berger, effective immediately, according to a statement Monday. Berger founded Sunnova more than 12 years ago.

Sunnova’s fortunes have withered as high interest rates and lower state incentives have made it more expensive for consumers to buy its home solar equipment. In addition, the Trump administration and Congress are looking to undo ...