Volta Inc., an electric vehicle (EV) charging network, has enacted multiple executive changes, including appointing Vincent Cubbage as interim CEO and hiring Stephen Pilatzke as chief accounting officer. The company’s board of directors has also promoted Brandt Hastings, currently chief revenue officer and interim CEO, to chief commercial officer as well as chief strategy officer Drew Lipsher to chief development officer.
Cubbage brings to Volta over 25 years of experience as a private and public company CEO and as an investment banker. He served as CEO, president and chairman of the board of Tortoise Acquisition Corp. II, which completed its initial business combination with Volta in August 2021, at which time he joined the Volta board. Cubbage presently serves as the CEO and chairman of the board of TortoiseEcofin Acquisition Corp. III and, since January 2019, has served as a managing director of private energy of Tortoise Capital Advisors LLC.
Cubbage has served as co-chair of the Volta board since March 2022. With his new appointment, Cubbage will continue to serve as a member of the Volta board, but he will not serve as co-chair during his tenure as interim CEO. Earlier in his career, Cubbage served as CEO, director and chairman of the board of directors of Arc Logistics GP LLC.
“We believe these appointments help the company progress as it builds a world-class executive team with a record of delivering results, public company expertise and a focus on key stakeholder value,” says Kathy Savitt, a director and previously co-chair of the Volta board, who has now been named sole chair. “Both the board and Volta’s executive leadership are committed to and energized by Volta’s growing industry leadership and the significant EV charging market opportunity ahead.”
“The board and executive team are excited about the growth potential of Volta’s multi-dimensional model and the significant opportunities ahead,” states Cubbage. “I look forward to working alongside Brandt, Drew and our other talented teammates at Volta to continue to drive accelerated global momentum, operational excellence, strong customer focus, expansion in our strategic partnerships, and an exceptional workplace culture.”
Pilatzke joins Volta as its first-ever chief accounting officer, bringing extensive leadership experience in accounting, business finance and public company financial reporting. He has held positions in a range of public and private companies in the energy sector, most recently serving as chief accounting officer of Falcon Minerals Corp. Additionally, Pilatzke served as chief accounting officer of Lightfoot Capital Partners GP LLC and of Arc Logistics Partners GP LLC as well as the general partner of Arc Logistics Partners LP. He has also served as chief financial officer and controller of Paramount BioSciences LLC. Pilatzke has also worked as an auditor at EisnerAmper LLP.
As chief commercial officer, Hastings will resume full-time focus on growing Volta’s revenue and leading Volta’s monetization of its media platform as well as accelerating the conversion of new commercial partnerships and revenue streams. He will continue to oversee Volta’s advertising and charging solutions businesses. Over the past 20 years in media, Hastings has held leadership roles at iHeartMedia and Clear Channel.
Lipsher has been with Volta for approximately six years, serving as chief strategy officer since July 2016. Prior to Volta, Lipsher served as the chief revenue officer at GLAMSQUAD and previously held senior leadership roles at Korn Ferry, Clear Channel, Greycroft, Interscope Geffen A&M Records, News Corp., BMG and Warner Music.
Volta also announced that the board has appointed Steven Schnitzer as interim general counsel and corporate secretary, succeeding Jim DeGraw, who recently departed the company. Schnitzer brings over 30 years of experience in corporate law, including more than eight years as general counsel of publicly listed companies. He has worked at began his career in 1988 in New York City as a corporate finance attorney with Debevoise & Plimpton LLP and was a partner in the corporate group of Katten Muchin Rosenman LLP for approximately 14 years. He joined Lightfoot Capital Partners GP LLC and Arc Logistics Partners GP, LLC in 2014 as senior vice president, general counsel and secretary. In addition to his role with the company, Schnitzer currently serves as vice president, general counsel and secretary of TortoiseEcofin Acquisition Corp. III, and as managing director and general counsel of private energy of Tortoise Capital Advisors LLC.
The board will commence a search for a successor to Volta’s current CFO, Francois Chadwick, who will leave Volta on August 22, 2022, to pursue another professional opportunity. In addition, as previously disclosed, the board has formed a CEO search committee and is actively engaged in a process to identify a permanent CEO.