Fermi has named Lee McIntire chief executive, ending a leadership vacuum that began after co-founder Toby Neugebauer was removed from the top job in April 2026 as part of the company's "Fermi 2.0" overhaul. McIntire, an independent board member who officially stepped into the role on August 11, brings more than 40 years of engineering and infrastructure experience and previously served as chief executive of CH2M HILL and TerraPower. The company operated under a co-presidency structure while the board conducted a formal search. Fermi, co-founded by former U.S. Energy Secretary Rick Perry, trades on NASDAQ under the ticker FRMI and went public in September 2025 after reincorporating as a Texas corporation. Its flagship Project Matador is part of a broader HyperGrid campus in the Texas Panhandle targeting 11 to 17 gigawatts of combined data center and power generation capacity, with nuclear power planned as part of the energy mix. The appointment followed news that TensorWave signed the first binding customer lease for the campus, helping lift Fermi's stock nearly 23% since Monday. Neugebauer remains Fermi's largest shareholder, and his suspended proxy campaign and legal disputes with the board leave a governance overhang as McIntire moves to execute the development pipeline.