Brian Harrison, the CEO of bankrupt PV manufacturer Solyndra, has resigned, reports ABC News. Harrison left his post on October 7 and Solyndra revealed the decision at a Delaware bankruptcy court on Wednesday.
Solyndra filed the papers in response to a motion by the Department of Justice to appoint a trustee to oversee the company's bankruptcy case. The Justice Department filed its motion after Harrison and Solyndra's CFO, W.G. Stover, invoked the Fifth Amendment and refused to answer questions from a Congressional Committee about a US$528 million loan guarantee from the Obama administration. The company is also under investigation by the US Justice Department, the Treasury Department, and the Department of Energy's Inspector General.
The government had selected Solyndra as the first loan recipient under its Energy Department programme. However, in August, Solyndra abruptly suspended operations and immediately laid off its 1,100 full-time and temporary employees. Within days, it had filed for Chapter 11 bankruptcy.
The House Energy and Commerce Committee's investigative subcommittee has held two hearings intending to unwind the deal and understand how signs of Solyndra's financial trouble might have been overlooked by the Department of Energy.