Solar-power company SunEdison Inc., which filed for bankruptcy in April after a period of debt-fueled expansion, said Chief Executive Ahmad Chatila has resigned effective Wednesday.

John S. Dubel, who became chief restructuring officer on April 29, will take the title of CEO. Mr. Dubel is a former CEO of bond insurer Financial Guaranty Insurance Co.

The Wall Street Journal reported in March that the Securities and Exchange Commission was investigating SunEdison's disclosures about how much cash it had on hand as its stock price collapsed last year. Also that month, SunEdison said the Justice Department was looking into issues including financing activities related to the canceled acquisition of Vivint Solar Inc.

The company's yieldco strategy, which played a key role in its growth plans, was criticized late last year by David Tepper's Appaloosa Management LP, a big investor in one of SunEdison's yieldcos, TerraForm Power Inc.

Mr. Dubel said Wednesday that "our priority is to focus on SunEdison's core strengths and work to create a more streamlined and efficient operator better-positioned and more appropriately capitalized for a competitive future."

Mr. Chatila became CEO in 2009. He was previously an executive at Cypress Semiconductor Corp.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 22, 2016 17:45 ET (21:45 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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