MEMC Electronic Materials has announced the retirement of two members of its board of directors, John Marren and William Stevens, after both serving 11 years on the board.
The retirement became effective from 31 December 2012. The company has appointed Emmanuel (Manny) Hernandez and Marshall Turner to succeed the retiring directors as Chairman of the Board and Chairman of the Audit Committee, respectively.
“On behalf of management and my fellow directors, I would like to thank both John and Bill for their years of leadership on our board. With their guidance, we have successfully navigated through both strong and challenging markets, and their experience and dedication will be missed,” commented Ahmad Chatila, MEMC President and Chief Executive Officer.
“We are also pleased to welcome Manny and Marshall in their expanded roles. Both of them have played crucial roles in many of the company's most important initiatives, and their experience and leadership will be of even greater value as we move forward.”
Marren commented: “It has been an honour to serve on MEMC's Board of Directors for the past 11 years. I am confident that Manny's talent, ideas and in-depth semiconductor and solar industry knowledge will serve the shareholders well. I am pleased that Bill and I leave the board following the recent appointment of three new highly qualified board members who can add their own new and unique perspectives.”
Hernandez added: “I am honoured to be appointed to lead such a distinguished group of directors. We have a good balance of recently added directors, with Board tenure now averaging less than four years. I am excited about the future prospects of the company, and look forward to working with Ahmad and the leadership team to create value for our shareholders.”