Further boardroom disputes at struggling Suntech Power Holdings would seem to have resulted in another major exit, this time acting head of the company, David King.
King was said to have stepped down in his roles as CEO and interim CFO with immediate effect. No further details as to what caused the exit were given by the company
The exit of King comes on the back of another recent high-profile resignation only a few weeks ago when Chairwomen, Ms. Susan Wang resigning, leaving with other board members citing the company had ‘no clear business plan.’ Wang had only returned to the company in March, 2013.
Zhou Weiping has been appointed interim CEO and interim CFO with immediate effect, while Suntech’s Board said it would look for a new CFO. Zhou will retain his roles as Suntech’s president and a director of the company.
Zhou Weiping, Suntech's new CEO, said “We would like to thank David for his service and I'm confident that I will be able to lead the company and, along with all our stakeholders, implement the restructuring plan over the coming months.”
King joined Suntech in May 2011 as CFO. The vast majority of long-standing executives and regional directors of the company have left the company since 2011.
Dr. Zhengrong Shi, founder and former head of the company remains a major shareholder and executive chairman.