DALLAS--(BUSINESS WIRE)--Stream (formerly Stream Energy), a leading direct selling company and provider of connected life services, announces the addition of David Faranetta as Executive Vice President and Chief Financial Officer. Faranetta will oversee the company's financial planning and reporting, accounting, tax and treasury functions.
A veteran of the energy industry, Faranetta brings with him a proven track record of strategic executive leadership. He is a motivational leader with a reputation for aligning people and resources to drive economic growth.
“I've been watching Stream for many years and am excited to finally be a part of this dynamic and fast-paced team,” Faranetta said. “I'm thrilled to join a team that will fuel our company’s growth and performance in the global energy industry."
As chief financial officer, Faranetta is responsible for driving Stream’s economic growth and overseeing all financial operations. He has a deep knowledge of and experience in financial, treasury and operations management, performance and risk management, mergers and acquisitions and board and regulatory relations.
“I'm extremely pleased to welcome David to our team,” said Stream President and CEO Larry Mondry. “His long industry experience is of utmost value to our organization and his contributions are going to play a major role in shaping a bright future for Stream.”
Previously, Faranetta served as CFO of TXU Energy and electricity generator and wholesaler Luminant. He comes to Stream after serving as Senior Vice President of Planning and Treasury at Dallas-based Vistra Energy. Faranetta holds a bachelor’s degree in economics from Moravian College and an MBA from Lehigh University.
Stream (Stream Energy) is a leading direct selling company and provider of connected life services. Founded in 2005, the Dallas-based company’s innovative use of direct selling revolutionized the energy industry, generating more than $8 billion in lifetime revenue in 12 years and transforming it into one of the largest direct selling companies in the global energy market.
Stream Services (Energy Services, Wireless Services, Protective Services, and Home Services) work seamlessly together to fit customers’ on-the-go lifestyles, keeping them connected, wherever they are. Energy Services are currently available in Texas, Georgia, Pennsylvania, Maryland, New Jersey, Washington, D.C., New York, and Illinois. All of Stream’s other services are available nationwide.