Samil Power Co., Ltd. announces today that Peter Cui, CEO and founder of the company, will move from CEO post to Chairman of the Board of Directors of Samil Power Co., Ltd.
Since the company's founding in 2008, Peter Cui led the company with its expertise and international experience from a small R&D company to the second largest Chinese inverter company and to one of the biggest Chinese exporters of solar inverter worldwide.
"My decision to move from the position of CEO and now to preside over the Board of Directors has formed gradually during the last 9-12 months," he said. "It is a decision I have thought about very carefully and prudently. I know now that it is the right time to hand over the daily operation and to step into a new stage of my personal life.
The business is going well and Samil Power is well positioned in the market. The positive business development is based on the commitment and enthusiasm of our staff and our professional management team members who are all internationally experienced PV experts.
To preside over the Board of Directors for the foreseeable future is the right decision for me. I will be very close to the company still and will continue to guide Samil Power. Before I focus on my new role, there will be a transition period of 3-6 months to make the new CEO as familiar as possible with everything, and to ensure a smooth transition."
At the same time, Samil Power announces the appointment of Mr. Jason Fang as new CEO. He is one of the board members of Samil Power for the last year and representing one of the four external investors. Mr. Fang earned his Ph.D in Finance from Peking University and continued his post-doctoral research in Economics in Fudan University. He is the chairman and founding partner of ZEC Capital.
He possesses long-term experience in asset management as President of Guolian Financial Investment Group,which is a leading financial holding group in China. He has also served as CEO of two manufacturing companies.
Mr. Fang is a specialist in the financial sector, private equity, as well as industrial company operations.
About Samil Power:
Samil Power Co., Ltd. is an international company, which was emerged out of the Samil Group in 2008. Samil Group, manufacturer of variable speed drivers and lift controllers, was already founded in 1992. Samil Power Co., Ltd. is specialised on R&D, production, sales/marketing and service. The company covers the whole product portfolio -from micro inverter over string inverter up to MW Station. Samil has more than 700 employees worldwide, thereof more than 200 employees in the field of R&D. Samil Power Co., Ltd. is selling its products in more than 20 countries, with currently 9 own subsidiaries in Munich, Milan, Reading, Lyon, Sydney, San Francisco, Beijing, Shenzhen and Suqian. In addition to that, Samil has two State of the art production facilities, certified on international standards (ISO 9001:2008 und ISO 14000:2004) as well as two R&D centres.
Press contact:
Oliver Schlenker
Director Marketing Communication –International
Phone: +49 (0) 89 8563341-10
Fax: +49 (0) 89 8563341-29
