The company’s Chief Operating Officer, Patrick Matweew, has been promoted to replace Mr Livingston as the new CEO.
Commenting on Mr Livingston’s decision, Mr Matweew said: “Phil is a visionary entrepreneur who has created one of Australia’s most exciting start-ups in a sector that’s been ripe for disruption.
“Under his leadership, Redback Technologies has achieved many significant milestones in a very short period, which is testament to Phil’s entrepreneurial spirit and leadership skills.
“On behalf of everyone at Redback I’d like to thank Phil for what he has created and express our appreciation that he will continue to support the management team as an active board member providing strategic and investment advice.
“Phil’s insights will be invaluable as we continue our mission to create technologically advanced but affordable solar energy and storage solutions for both residential and commercial customers.”
Having overseen Redback Technologies from its inception, Mr Livingston felt it was now time to bring on a seasoned executive to lead the company through its next phase of growth and day to day operations.
“Redback has gone through a massive growth phase over the past three and a half years, where we have established alliances with leading edge partners like Microsoft, The University of Queensland and EnergyAustralia.
“Together, we have brought to market a high quality, innovative and feature rich product that is affordable for homeowners and gives them the ability to reduce their energy costs.
“This was my vision for Redback and I’m very proud we have delivered on it. In the future I believe Redback will continue to lead through creating innovative consumer centric products that will lend further disruption within the energy sector.
“But with growth we must evolve, so the timing is right to hand over the reins to Patrick to continue our commercial endeavours and to lead our day to day operations.