Blink Charging Appoints New CFO To Help Steer Turnaround

Blink Charging Co BLNK announced on Thursday that it named Michael Bercovich its new CFO.

Bercovich, who will officially assume the new role at the electric vehicle charging company on June 23, previously served as finance chief at Helios Global Payments Solutions, MyOutDesk, Cialfo, and Elements Global Services.

Bercovich has a proven record of establishing and managing global financial operations, treasury, and tax in over 40 countries.

Also Read: Blink Charging Cuts 20% of Workforce in Restructuring to Save $11M Amid Sluggish Sales

Michael Rama, Blink’s previous CFO, has decided to pursue new opportunities outside of Blink, coinciding with the conclusion of his employment agreement at the beginning of June. To help ensure continuity and a smooth transition, Robert Strauss, a senior advisor from FTI Consulting, has assumed the position of Interim CFO until Bercovich joins Blink.

Strauss has worked with several growth-stage companies that are transforming and has been working closely with Rama during his transition period to help facilitate knowledge transfer and operational continuity.

Blink Charging stock plunged over 74% in the last 12 months. The company failed to accomplish the topline estimates in the previous four quarters.

In May, H.C. Wainwright analyst Sameer Joshi cut the stock’s price forecast, citing ongoing weakness in product sales, which declined 69.5% year-over-year to $8.4 million in the first quarter of 2025.

The analyst noted that management has intensified its focus on a few core strategies, including customer-centric business models, expanding DC Fast Charging offerings, and cultivating recurring revenue streams.

For 2025, the company expects a sequential increase in revenues generated from its services, alongside a robust revenue performance in the latter half of 2025.

Joshi expects Blink’s strategic emphasis on increasing its portfolio of owned DC Fast Charging infrastructure to lead to higher revenues from services and an overall increase in total revenues in the upcoming quarters. He said that the company remains on track to pursue the monetization of its ride-sharing business in 2025.

Price Action: BLNK shares are down 1.35% at $0.83 at last check on Thursday.

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