Victor Lee, executive director of TFG Radiant Group, will now serve as Ascent Solar Technologies’ president and CEO. TFG Radiant owns approximately 20% of the outstanding shares of Ascent and this past December agreed to purchase an additional 21% of the outstanding stock in a private transaction. Lee will remain as a board member for the company, but advised that he takes on the roles of president and CEO voluntarily and without any compensation.
Dr. Amit Kumar, chairman of Ascent, stated, “We are pleased to see TFG Radiant make a greater commitment to Ascent. Victor, representing our largest shareholder, has tremendous relationships in Asia that will be valuable to Ascent. As we evaluate the changing dynamics of the solar industry, we have been aware for some time that the greatest market opportunities are in Asia, and this change in leadership enables us to take advantage of these changing market dynamics. Victor and his team at TFG Radiant, have substantial financial management backgrounds, have run multiple large organizations, and have very strong financial, government and business relationships in China and East Asia. In addition, Victor is fluent in English, Mandarin and multiple Chinese dialects.”
Lee’s role will see him focus on increasing production, establishing relationships with partners and developing sales opportunities – especially in Asia. He brings a 17 year background in corporate banking, real estate finance, investment management and corporate advisory services to his position. Lee began his career with Citibank working his way towards a VP position in the international and personal banking division. He eventually moved on to work with Deutsche Bank as a VP and was later promoted to managing director and Singapore market head in the private wealth management division
Between 2007 and 2009 he worked at Morgan Stanley in the private wealth management division and served as an executive director and head of the Singapore/Malaysia markets. Lee received his bachelor’s degree in accounting from the University of Wisconsin and a master’s in wealth management from the Singapore Management University.