Suntech’s Shi steps down

In a surprise announcement, Suntech Power Holdings Co. Ltd has said founder Zhengrong Shi – one of the most prominent solar industry figures – has stepped down from his CEO position. The company will now be led by David King.

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The Chinese crystalline photovoltaic module manufacturer announced today that Shi will take up the positions of executive board chairman and chief strategy officer.

In a statement released, he commented, "The solar industry is at a critical juncture and is facing both significant challenges and exciting opportunities. At this time, I believe it’s important to devote more of my time to guiding the strategic direction of the Company, building relationships with key partners, and driving the ongoing development of Suntech’s leading solar technology."

New CEO, King joined Suntech in 2011 as CFO. Prior to this, he undertook various managerial roles at Tetra Tech, Inc., Walt Disney Imagineering and the Bechtel Group.

Commenting on his new position, he said, "Over the past 11 years, Dr. Shi has built Suntech to be a global leader in the solar industry and the Company’s established brand, reputation for quality and world-class team give us a clear long-term competitive advantage. I look forward to working with Dr. Shi to address the near-term challenges, while continuing to drive growth and cement Suntech’s leadership position."

pv magazine has requested an interview with the new CEO.

Taking up King’s CFO role, on an interim basis, will be Anlin Ting-Mason, current CFO of Suntech America.

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