On November 1, 2017, Genie Energy Ltd. announced that Howard Jonas, the company’s Chairman and Chief Executive Officer, resigned his position as Chief Executive Officer and will remain the company’s Chairman of the Board. On November 1, 2017, Michael Stein, the current Chief Operating Officer of the company and a named Executive Officer, was elected Chief Executive Officer of the company, effective immediately. Michael Stein, 33, has served as Chief Operating Officer of Genie since March 2017 and had served as Executive Vice President of Genie from May 2014 to March 2017. Mr. Stein has served as Chief Executive Officer of Genie Retail Energy Inc. since May 2015. In addition, Mr. Stein serves as Chief Executive Officer, Executive Vice President or Executive Chairman of various subsidiaries of the company.