NSP announces management changes

Neo Solar Power Corporation (3576 TT) (“NSP”, or “the Company”), a leading producer of high quality solar cells in Hsinchu, Taiwan, held a Board meeting on December 19th. In order to drive multiple important strategies and to strengthen the advantages of the organization, Chairman Quincy Lin nominated Dr. Sam Hong to succeed as CEO of the Company, responsible for daily operation, effective from January 1st, 2013.

Chairman Quincy Lin will additionally assume the position of CSO (Chief Strategy Officer), devoting himself to the development of important strategies and international cooperation projects. Chairman Quincy Lin also nominated Andy Shen as President. The aforementioned resolutions have been approved unanimously by Board members. Starting January 1st, 2013, Dr. Quincy Lin will no longer serve as CEO.

Dr. Sam Hong will serve as CEO, and will no longer serve as President.

Starting January 1st, 2013, Dr. Quincy Lin will serve as Chairman and CSO, responsible for planning, deployment and implementation of corporate strategies and the most effective allocation of corporate resources. In the past, under the leadership of Dr. Quincy Lin, NSP continued to excel. Merely one year after the inception, NSP has achieved break-even operation. In three years its revenues reached NT$10 Billion (US$300 Million). Within six years, NSP was ranked one of the global top 10 Solar PV companies.

Dr. Quincy Lin believes that the structure of the top management team should be planned in advance and implemented in steps. In line with that philosophy, he has contemplated NSP’s future organization over the past few years. In order to empower younger executives with more responsibility, Dr. Quincy Lin has made the arrangement accordingly with the unanimous support of the Board.

“Ever since Dr. Sam Hong and I founded NSP in 2005, he has been serving as President and demonstrating his technology excellence, making NSP a leading-edge technology company,” said Dr. Quincy Lin, Chairman of NSP. ”I believe that Dr. Sam Hong as CEO will bring NSP’s operation to next higher level.”

Dr. Hong has more than 30 years of experience in photovoltaic solar energy industry. He has served as the Research Division Director of Photovoltaic Solar Energy Division at Industry Technology Research Institute (ITRI). In addition, Dr. Hong is the Chairman of the Taiwan Photovoltaic Industry Association. Since the inception of NSP, under his leadership, NSP R&D team has constantly increased cell efficiency. In the past few years, NSP’s high-efficiency cells are highly recognized and received compliments by customers.

Mr. Andy Shen is currently Senior Vice President of NSP Worldwide Sales and Marketing organization. Previously, Mr. Andy Shen served as Senior Director at TSMC, a leading semiconductor manufacturing company and Managing Director of TSMC-Europe. He has more than 25 years of experience in semiconductor engineering, sales and marketing. Mr. Andy Shen and his team has successfully developed several 100+ MWp size customers. His outstanding capability and experience are highly recognized. “I believe that Mr. Andy Shen, as President, will continue to enhance customer relations, cost down and improve gross margins.” said Dr. Quincy Lin.