Stem Appoints Brian Musfeldt As The New Chief Financial Officer Amid Strategic Realignment And Ongoing Growth

Stem, Inc., a global leader in AI-driven clean energy software and services, has announced the appointment of Brian Musfeldt as Chief Financial Officer, effective July 17, 2025. He will succeed Doran Hole, who is stepping down from his roles as Chief Financial Officer and Executive Vice President on the same date to pursue other interests. To ensure a smooth transition, Hole will continue to support the company in an advisory capacity until July 31, 2025.

Brian Musfeldt returns to Stem with a strong background in financial leadership and strategic growth within the clean technology and energy sectors. He previously served as Chief Financial Officer of AlsoEnergy from 2017 to 2023, where he played a key role in the company’s acquisition by Stem in 2022. His prior experience with Stem and understanding of the company’s operations are expected to contribute to a seamless transition and continued momentum.

From 2023 to 2025, Musfeldt served as CFO of ikeGPS, a platform technology company focused on above-ground grid resiliency and utility infrastructure expansion. At ikeGPS, he led the company’s financial strategy during a time of increasing regulatory demands for utility compliance. Earlier in his career, from 2011 to 2015, he was the CFO at MST Global Inc., an industrial network and software provider supporting mining and other critical infrastructure sectors.

Arun Narayanan, Chief Executive Officer of Stem, said, “We’re pleased to welcome Brian to our leadership team as we continue to evolve our business and focus on growing software services revenue, innovating impactful technology and driving profitable growth. Brian’s experience, including previously serving as one of the leaders of part of Stem’s business, is in complete alignment with the strategic direction I have charted for the Company. I look forward Brian’s support in the next phase of Stem’s development.

He further continued, “He is adept at developing and leading teams to deliver high quality results and his deep firsthand knowledge of our Company’s journey and the PowerTrackTM product suite will be critical to our goal of increasing our software and services revenue. I am excited to collaborate with him as we continue to grow in the near- and long-term. On behalf of our Board and management team, I would like to thank Doran for his contributions to Stem over the last year and wish him the best in his future endeavors. Doran was an integral part of the core team that helped Stem navigate a new strategic direction and was a very key player in building relationships with our stockholders and analysts.”

Musfeldte stated, “I am a strong believer in Stem’s innovative solutions and have seen firsthand the value that they can deliver to the market. This is a full-circle moment for me to return to this tremendous team, and I look forward to helping Stem further mature into a financially and operationally efficient company unlocking the full potential of clean energy assets and portfolios.”

Musfeldt brings nearly three decades of experience in finance and management, with a strong track record in operational efficiency, business strategy, and technology-focused industries. He began his career as a certified public accountant, spending six years as an audit manager at KPMG and Arthur Andersen, where he specialized in clients from the high-tech and manufacturing sectors. He holds an MBA from Colorado State University, earned in 2012. His appointment comes at a pivotal time for Stem as the company continues to grow following a strategic realignment of its business units, software portfolio, and professional services.