SPI Energy's Co. Chairman Becomes Chief; CFO Steps Down
March 28 2016 - 11:50AM
Dow Jones News
Chinese solar company SPI Energy Co. said its chairman was
appointed chief executive as its current CEO and financial chief
stepped down from their positions.
The company said Xiaofeng Peng, its chairman, became its CEO,
replacing Roger Dejun Ye. Mr. Ye is remaining with the company as
an executive vice president in charge of the solar business and was
appointed to SPI's board.
SPI develops, finances, installs and operates solar projects for
residential and utility use globally. A number of solar companies
have faced challenges from low energy prices and as some U.S.
states have considered scaling back solar-power incentives.
CFO Amy Jing Liu resigned from her position and left the board
and the company, both for personal reasons.
SPI said it will search for a new CFO and named executive Tairan
Guo interim CFO. Mr. Guo had led the company's green-energy payment
platform.
American depositary shares of SPI began trading on Nasdaq in
January. Shares closed last week at $6.39 and are down more than
60% from their first-trading-day price.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
March 28, 2016 11:35 ET (15:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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