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The head of Fermi America, the company building a large-scale data center campus in Texas named after President Trump, has resigned from his current role amid a broader reshuffling of the firm’s leadership.
Fermi co-founder and CEO Toby Neugebauer stepped down Friday, according to a securities filing. The Dallas billionaire remains a member of the company’s board of directors, a press release said Monday.
The company also announced that current board member Marius Haas was taking over as chairman of the board, while chief financial officer Miles Everson was resigning from his role and joining the board as part of what the company described as “Fermi 2.0.”
The reshuffling comes as Project Matador, also known as the Trump Advanced Energy and Intelligence Campus, has hit road bumps on its quest to build 11 gigawatts of computing power on 5,800 acres in the Lone Star State.
Fermi is facing a class action lawsuit from shareholders, who have accused the company of misrepresenting the demand for Project Matador after the project’s first tenant cancelled its agreement.
The Texas Tech University System (TTUS), which is collaborating with Fermi on the project, noted Monday that it “remains firmly committed to the partnership” and is currently in discussions to “extend certain milestones in the lease agreement.”
“Project Matador has the potential to deliver generational impact—not just for TTUS, but for national security, American energy independence, and the future of advanced research and industry in West Texas,” Brandon Creighton, chancellor of the university system, said in a statement.
Fermi was co-founded by Neugebauer and former Energy Secretary Rick Perry (R), who served in Trump’s first term. Perry was also governor of Texas from 2000 to 2015.
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