Major PV manufacturer, Yingli Green Energy said a former CFO and current chief strategy officer, Zongwei Li has resigned from his position as executive director on its board of directors. The company did not say why Li had resigned.
His replacement in the roll will be Yiyu Wang, Yingli Green’s current CFO an will also become an executive director on its board, effective immediately.
“I'm pleased to welcome Mr. Wang on board. I believe that his operational and financial expertise will make him a valuable contributor to the board and our shareholders,” commented Liansheng Miao, chairman and chief executive, Yingli Green Energy. “I would also like to personally thank Mr. Li for his participation at the board level and for his valuable contributions.”
Li joined Yingli Green in 2006 as CFO.
Yingli Green recently reported third quarter results and lowered PV module shipment guidance for the full-year, resulting in very little expected shipment growth in 2014.
Based on shipment guidance, Yingli Green has been surpassed by Trina Solar as the largest PV manufacturer, based on shipments this year