MEMC Electronic Materials, parent company of SunEdison, has issued a formal statement in regards to what is deems misinformation regarding its CEO, Ahmad Chatila, and the company’s restructuring. “We have been made aware of rumors relating to the company which may be causing concern,” said John Marren, chairman of the MEMC board of directors, “and we wish to make it absolutely clear that Ahmad Chatila remains our CEO. The MEMC Board has been actively engaged in the ongoing review of the company's performance and has taken appropriate action when necessary or desirable,” Marren continued.
“The restructuring led by Ahmad and management announced in December 2011 is reflective of this engagement, but the announced restructuring was not the end of our work. Our markets remain challenging and so our efforts to improve performance and drive shareholder value continue unabated. We are committed to working with Ahmad and management to drive results,” concluded Marren.