MEMC appoints new executives to run semiconductor and solar business units

MEMC Electronic Materials has shuffled its senior management with the aim of having executives responsible for its two core markets, semiconductor and solar. Ken Hannah, who has served as Senior Vice President and Chief Financial Officer since April 2006, has been promoted to the newly created position of Executive Vice President of MEMC and President of MEMC Solar Materials. Hannah will therefore be responsible for all sales and manufacturing operations for polysilicon and solar wafers.

Tim Oliver has joined the company as Senior Vice President and Chief Financial Officer, effective November 2. Oliver was employed by Metavante Technologies, where he was the Senior Vice President and Chief Financial Officer. Previous to Metvante, he served as Vice President and Treasurer of Rockwell Automation since May 2004.

19-year veteran at MEMC, Shaker Sadasivam, MEMC’s Senior Vice President of Research & Development will now become Executive Vice President of MEMC and President of MEMC Semiconductor. He retains his role as head of R&D.

“These changes will strengthen our corporate leadership team and allow us to enhance our customer focus and service,” said Ahmad Chatila. “The semiconductor and solar industries are two separate markets with distinct customers. As our solar business continues to evolve, the time has come for us to establish executive leadership dedicated to addressing the needs of our solar and semiconductor customers individually, and Ken and Shaker are the right people to lead those efforts.”

All three executives will report to Chatila.