Core Scientific Names Jim Nygaard as New CFO, Stock Rises 2% Pre-Market
Core Scientific, Inc. (CORZ), a leading provider of digital infrastructure for high-performance computing (HPC) and bitcoin mining, has appointed Jim Nygaard as its new Chief Financial Officer (CFO), effective March 17.
Nygaard, a seasoned financial executive with extensive experience in mergers and acquisitions, corporate finance, and capital markets, previously held key roles at XMS Capital Partners and Morgan Stanley, the company announced Monday.
“Jim’s financial acumen and strategic leadership will be crucial as we continue to expand operations and enhance shareholder value,” said CEO Adam Sullivan.
Nygaard will succeed outgoing CFO Denise Sterling, who played a pivotal role in guiding Core Scientific through its Chapter 11 restructuring and securing over $1 billion in capital. Sterling will remain with the company until May 1 to oversee a smooth leadership transition. The succession plan was initially disclosed on September 6.
This leadership change follows Core Scientific’s recent announcement of a $1.2 billion expansion of its data centers in collaboration with CoreWeave.
CORZ shares climbed 2% in pre-market trading but remain down over 20% year-to-date.
