Fermi America Overhauls Leadership as Texas AI Data Center Project Advances
Fermi America, the company building a massive AI data center and nuclear-powered campus near Amarillo, replaced its CEO and CFO this week as it transitions from startup to public-company operations.
Co-founder Toby Neugebauer stepped down as CEO on April 17. The board created an interim Office of the CEO with two co-presidents-Jacobo Ortiz Blanes, the former chief operating officer, and Anna Bofa, a former board advisor-who will share leadership duties while the company searches for a permanent CEO. The board engaged executive search firm Heidrick & Struggles for the search.
CFO Miles Everson resigned effective April 19 and joined the board of directors. The company is identifying an interim CFO, with an announcement expected within a week.
Board Restructured, New Headquarters Planned
Marius Haas, a founding director and former senior executive at Dell Technologies, became board chairman. The board expanded from five to seven members, adding Jeffrey S. Stein, co-founder of Breakpoint Advisory Partners, a corporate advisory and investment banking firm.
Fermi is establishing corporate headquarters in Dallas while maintaining an office at Project Matador near Amarillo. The company described this as part of "Fermi 2.0," a shift toward public-company governance and operations.
Project Matador Expands in Scope
Project Matador, the company's primary asset, is expanding from 5,236 acres to approximately 7,570 acres under a 99-year ground lease with Texas Tech University System. The site will house a nuclear-powered data center campus designed to support AI infrastructure.
In March, the City of Amarillo applied for foreign-trade-zone subzone designation for the project, which would provide favorable customs treatment and duty deferral for imported equipment including power generation turbines. The Nuclear Regulatory Commission published a notice of intent in March to prepare an environmental impact statement for the company's application to build four Westinghouse AP1000 reactors.
Fermi remains in active discussions with multiple prospective tenants across various stages of negotiation, according to the company's latest annual report.
Leadership Background
Ortiz Blanes has managed real estate transactions valued at more than $280 million and founded Las Brisas Property Management, one of the largest real estate services firms in Puerto Rico and the Caribbean. He spent 15 years as a marketing manager at S.C. Johnson & Son.
Bofa held roles at Google, Dropbox, Pinterest, and Meta, where she served as global head of product programs. She is co-founder of Crate AI and has worked with Texas Tech, company shareholders, and technology clients.
Haas led Dell's transformation from a commodity PC supplier to a provider of technology infrastructure and enterprise solutions. He played a senior role in Dell's take-private transaction in 2013 and the subsequent integration of EMC and VMware in 2016.
Stein has advised public and private companies on strategic transactions, capital structure optimization, and regulatory matters. He has served on boards including Sunnova Energy International, Vertex Energy, and Rite Aid.
Fermi was co-founded by Neugebauer and former U.S. Energy Secretary and Texas Governor Rick Perry to meet energy demands from AI infrastructure growth. Neugebauer remains on the board.
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