Core Scientific Announces CFO Transition Plan

Core Scientific, Inc., based in Austin, Texas, announced on September 6, 2024, that Denise Sterling will step down as Executive Vice President and Chief Financial Officer effective May 1, 2025, or once a permanent successor is found. The company has initiated a search for her replacement with the help of an executive search firm. Sterling has been recognized for her leadership during a transformative period for Core Scientific, particularly in navigating a successful restructuring and a $460 million convertible note offering. Adam Sullivan, the CEO of Core Scientific, praised Sterling for her dedication and the strong finance team she built. He acknowledged her significant contributions to the company’s growth and stability. Sterling expressed her gratitude for the opportunity to work with the team and her excitement about continuing to support the company’s strategic initiatives in the coming months. The transition comes at a crucial time as Core Scientific aims to advance its high-performance computing hosting strategy. The company is focused on positioning itself for future growth in the digital infrastructure sector, particularly in bitcoin mining and high-performance computing. The search for a new CFO is expected to be a critical step in ensuring the company’s continued success. As the company moves forward, it faces various challenges, including the need for significant electrical energy and maintaining its competitive position in the market. The leadership transition is seen as an opportunity to bring in new talent that can help navigate these challenges and drive the company’s strategic goals.