Darryl Nakamoto has resigned from his position as Hoku's chief financial officer (CFO). Nakamoto, who also served as Hoku's treasurer and secretary, will remain at the company until March 31, 2012 to help the search for his successor and assist with the transition.
Since his appointment as CFO in 2005, Nakamoto has been responsible for managing all finance, accounting, public company reporting and internal controls for Hoku and its subsidiaries. During this time, he has overseen Hoku's initial public offering on the Nasdaq Global Market and the raising of over US$300 million in debt and equity capital.
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“Taking a company public is a significant accomplishment, as were Darryl's contributions in transitioning Hoku from fuel cells to solar and helping to raise capital during these tough economic times,” Hoku audit committee chairman and board member Dean Hirata said.
“As we have moved from a start-up to an emerging growth company, I feel that now is the right time for me to move on to my next challenge,” Nakamoto said. “I'm extremely proud to be a part of the many accomplishments of Hoku, and I am thankful for all that that Hoku has done for me over the past seven years. I'm confident that Hoku is positioned to become a leader in the global solar market.”