Fermi, a company specializing in AI-driven nuclear power, has appointed a new CEO after over three months following the dismissal of co-founder Toby Neugebauer from the executive role.
On Wednesday, Fermi announced that Lee McIntire, a current independent board member and former CEO of both CH2M Hill and TerraPower—an initiative established by Bill Gates—has taken the helm.
Co-founded by Rick Perry, a former U.S. Energy Secretary, Fermi America is currently working on an AI-driven campus in Amarillo, Texas named Project Matador, which will utilize nuclear reactors to provide energy for data centers.
This announcement came alongside the news of signing TensorWave as the first official customer lease for Project Matador, resulting in a significant boost to Fermi’s stock prices, which have risen nearly 23% since Monday. The company faced setbacks in April with the ousting of Neugebauer and CFO Miles Everson. At the time, the executive changes and plans for a new headquarters in Dallas were branded as Fermi 2.0.
Marius Haas, the chairman of Fermi’s board, expressed confidence in McIntire’s leadership, stating, “The next phase for Fermi is focused on construction and energy delivery, and we believe Lee is the perfect leader for this journey. The mission is clear: to build safely, on budget, and on time. With 40 years of experience in managing large, intricate projects, Lee is well-equipped for the task. His tenure on our board during our recent growth phase, combined with his strong reputation for integrity, positions him as a trustworthy figure for our customers, employees, regulators, and community.”
