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In a sudden unexpected move, Dr. Zhengrong Shi, founder, chairman and CEO of the largest global PV manufacturer, Suntech Power Holdings, has relinquished his two key roles. The role of CEO has been taken by David King, Suntech’s current CFO who joined the company in May 2011. Dr. Shi will serve in two newly created roles: executive chairman of the board and as the chief strategy officer of the company.
To fill the vacant CFO role on an interim basis, Suntech has appointed Anlin Ting-Mason, currently chief financial officer of Suntech America.
"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," said Dr. Shi, Suntech's executive chairman and chief strategy officer.
However, the timing of the move may be called into question after recent revelations that Suntech and its founder claimed it had been the victim of massive fraud over investments in Italian solar project developer, GSF. Suntech is facing class action law suits in the US over its handling of the affair.
