Having only been in the position for nine months, Andrew Chen, Canadian Solar’s CFO, is leaving the company ‘to pursue a new challenge.’ Chen will continue as special advisor to the CEO's office until September 30, according to the company. His replacement will be Michael G. Potter, currently an independent director at Canadian Solar. He has been appointed as senior vice president and chief financial officer, effective July 20.
Shawn Qu, chairman and CEO, remarked: “We are very pleased that Michael has agreed to join us on a full-time basis at this exciting point in our development. Michael has played a significant role in our strategic decisions and global expansion over the past four years. His extensive Asian and U.S. management experience, his understanding of financial transactions and his credibility with our investors will be of immediate help to Canadian Solar as we work to increase shareholder value.
“Separately, Andrew has made an important contribution to Canadian Solar since joining us last October. We are pleased that he has agreed to continue as special advisor for an interim period to assist Michael in assuming his new responsibilities.”
Potter became an independent director of Canadian Solar in September 2007. He has previously been corporate vice president and CFO of Lattice Semiconductor. Before joining Lattice, Potter was CFO of NeoPhotonics and before that senior VP and CFO of STATS ChipPAC.
Potter is a chartered accountant and holds a bachelor of commerce degree from Concordia University, Canada, and a diploma of public accountancy from McGill University, Canada.
Canadian Solar has also increased the size of its board from four to five with the appointment of Harry E. Ruda as an independent director, effective July 20.
Ruda serves as director of the Centre for Advanced Nanotechnology, the Stanley Meek Chair in Nanotechnology, and professor of applied science and engineering at the University of Toronto, Canada.