Fermi Details Reasons Behind Firing CEO Who Posed ‘Threat’ (1)

Fermi Inc. said it fired its former chief executive officer after his actions threatened the company’s efforts to build what it describes as the world’s largest private power complex for data centers.

Toby Neugebauer’s “behavior as CEO created disruption to operations and presented a significant threat to meaningful relationships with key stakeholders,” Fermi said in a statement Monday that provided more details about last month’s management shakeup.

The disclosure highlights the escalating dispute between Neugebauer, who is now pushing for a sale of the company, and Fermi, which has moved to block his efforts to reshape the board. The ...