Chinese cell and module manufacturer China Sunergy has gone back to the future with the return of co-founder Tingxiu Lu to the top job at the company.
A company statement released by CSUN today announced the resignation of CEO Stephen Zhifang Cai ‘for personal reasons' with Tingxiu returning to the position he previously held ‘effective September.'
No further explanation was given for the resignation of Zhifang as CEO.
The Nasdaq-listed and British Virgin Islands-registered manufacturer's share price has tanked since peaking at $9.49 on November 6, hitting a 12-month low of $2.58 on May 9 and closed at $3.31 yesterday, down $0.07 or 2.07%.
‘Industry veteran' Tongxiu previously held the top job at CSUN for a ten-month period between October 2006 and July 2007 and has been chairman of the company's board since 2007.
The CSUN announcement added Tingxiu would resign from his executive positions at the China Electric Equipment Group (CEEG) upon resuming his post as CEO at Nanjing-headquartered CSUN.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.