At a Glance

  • Battery maker Eos Energy "immediately effective" terminatedthe employment of Chief Financial Officer Eric Javidi on Tuesday, according to a securities filing, just about three months after Javidi took over as the company's top finance role. Eos Energy said Javidi's termination without cause was "not related to the company's financial or operating results, nor does it involve any disagreements or concerns regarding the company's financial or reporting practices."
  • The Edison, New Jersey-based company appointed its Chief Commercial Officer Nathan Kroeker as interim finance chief, according to Tuesday's filing with the U.S. Securities and Exchange Commission. Kroeker served as the company's CFO before Javidi took over in March. The company said Kroeker will not receive additional compensation for serving as interim CFO.
  • Kroeker returns to the finance chief role as the battery maker seeks to expand further amid a surge in electricity demand driven by the artificial intelligence boom. The company, which makes zinc-based batteries, is seeking to expand its first production line and build a second, funded by a U.S. Department of Energy$303.5 million loan guaranteethat Eos Energy received in December. Bloomberg reported earlier this month, after an interview with CEO Joe Mastrangelo, that the company has so far drawn downa $68 million loan, Mastrangelo told Bloomberg.

Deep Dive

Javidi joined from investment firm Kayne Anderson on March 5, according to a company filing at the time,succeeding Kroeker as CFO. Under the appointment agreement, Javidi had an annual base salary of $500,000 and was eligible for a target bonus equal to 80% of his base salary, according to the March filing.

He also received an initial restricted stock unit award valued at $2 million, a long-term incentive plan equity award valued at $500,000, and a $5,000 signing cash bonus "to assist you with legal fees you may incur in connection with your transition to Eos," according to his offer letter.

Eos Energy said in Tuesday's filing that Javidi will be "entitled to" the "payments and benefits" related to termination without cause detailed in his offer letter. Under the offer letter, whether terminated without cause or resigning for good reason, the former CFO is entitled toreceive"any accrued but unpaid base salary and any unreimbursed business expenses" through the termination date, to be paid on the next payroll date.

Provided Javidi signs, delivers, and does not revoke a release of claims related to his termination, he is also entitled to 12 months of base salary, any earned but unpaid annual bonus, and full equity vesting except for performance-based vesting equity awards, according to the offer letter.

Meanwhile, Kroeker moved to Chief Commercial Officer on March 5, after serving as Eos Energy's CFO since 2023. Kroeker's base salary was not adjusted upon taking on the interim CFO role, but his short-term incentive opportunity increased from 70% to 90%, according to the March filing announcing the previous leadership change.

Before joining Eos in 2023, Kroeker held several key finance roles, including CFO, during a nine-year career at Spark Energy, according to his LinkedIn profile. His past experience also includes roles at Macquarie Energy and Direct Energy, and he began his career at accounting firms Arthur Andersen and Ernst & Young.

The sudden CFO change comes as the company continues to advance its expansion plans. Earlier this month, the company signed a deal with a "large data center developer" to use its batteries, according to Bloomberg. CEO Mastrangelo previously told Bloomberg that agreements with such data centers account for about 30% of the battery maker's potential deals. On Wednesday, the company announced it had secured a strategic order from Faraday Microgrids to developcommercial microgrid applications。

on tribal land in California. Eos shares have surged more than 715% over the past year, according to Nasdaq data. The company is ramping up production to address customer backlogs, according to its earnings report released earlier this month. Eos Energy in the first quarter of 2025reported the highest quarterly revenue in company history. The energy company reported revenue of $10.5 million for the quarter ended March 31, up 58% from the same period last year and up 44% from the previous quarter.

The company also reported a gross loss of $24.5 million, compared with a gross loss of $21.6 million in the same period last year. Its operating costs surged in the quarter, up 46% from the same period last year to $28.4 million, according to its earnings report.

While Mastrangelo called tariff uncertainty a "cost headwind for the industry" during the battery maker's first-quarter earnings call, the CEO characterized such uncertainty as a "near-term" rather than long-term challenge, according to a Seeking Alpha transcript. Mastrangelo said on the call that 91% of its supply chain is based in the U.S., which can serve as a"key competitive advantage"for Eos, as the Trump administration continues to target foreign imports with high tariffs.

Although the Trump administration has also announced intentions to cut billions in energy-related loans from the Biden administration, Mastrangelo previously told Bloomberg that "conversations are progressing normally" with the current administration regarding the disbursement of the remaining portion of Eos's $303.5 million loan.

EOS Energy did not immediately respond to a request for comment on the CFO change.