Magnus Ryde, former chief executive officer and director of DayStar Technologies, has resigned from his positions with the company effective as of February 28 in order to pursue other opportunities. “I am grateful for the opportunity to have led DayStar throughout this past year and am confident that the progress we have made to restructure our balance sheet and in discussions with potential strategic partners have DayStar well positioned for near-term success,” commented Ryde.
Peter Lacey, DayStar’s chairman of the board since October 2009, will be the interim CEO for the company. Lacey commented, “We appreciate the leadership that Magnus Ryde provided to DayStar during this very challenging time as well as the progress that has been made during Mr. Ryde's tenure as CEO to position the company for a successful strategic partnership. I look forward to taking a more active role in the day-to-day operations of the business and working closely with the rest of the management team during this very exciting time for the Company. I am committed to doing everything necessary to continue to build upon the progress that has been made to position the Company for a strategic partnership and to lead DayStar through its next phase of growth.”