Stream Energy has made significant changes to its top management. The direct selling company has named David Faranetta as the Executive Vice President and Chief Financial Officer (CFO). As CFO, Faranetta will be in charge of the company’s financial operations and management functions, see more here. The financial operations include planning, recording, reporting tasks as well as assessing the firm’s tax liability.
Faranetta holds a bachelor’s degree in economics from Moravian College and an MBA from Leigh University. He has held previous positions as the CFO of TXU Energy, and as the co-founder of electricity generator and wholesaler, Luminant. Before joining Stream Energy, Faranetta was the Senior Vice President of Planning and Treasury at Vistra Energy located in Dallas, Texas.
Faranetta has a long experience in the energy sector as reflected by his track record in strategic management. Apart from being part of many initiatives that fuel economic growth, the new CFO is also an accomplished motivational speaker. In a statement, Faranetta says that he has been keenly following Stream Energy projects and claims that the company is set to be a leader in the global energy scene.
Stream Energy began its operations in 2005 as an electricity and natural gas retailer. Today, Stream Energy is a leading direct selling firm, as well as, a connected life services provider. The company offers its services in major American cities including Texas, Georgia, Pennsylvania, Maryland, Illinois, New Jersey, Washington D.C., and New York. Stream Energy has been named as one of the top 20 direct selling companies in the United States, refer also to saveonenergy.com.
The company utilizes an innovative multi-level sales strategy to avail its products to the final consumers. The plan transformed the energy retail sector, in the process, it generated over $8 billion in revenue for Stream Energy. The income propelled the company to become one of the highest grossing direct selling companies in the global energy scene.
Recently, Stream Energy has diversified its ventures to include protective, wireless, and home services. The firm claims that its products work together to suit customer needs as well as keep them connected while on the move.