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First Solar announces changes in the boardroom, executive suite

Mike Ahearn, Executive Chairman for First Solar Inc., will transition to the position of Chairman of the company’s Board of Directors, effective January 1, 2011. At the same time James Zhu, the company's Chief Accounting Officer, has been appointed interim Chief Financial Officer.

The company described Ahearn’s transition as a “natural evolution of leadership succession” begun in 2009 when the First Solar appointed Rob Gillette Chief Executive Officer.

“First Solar is in good hands under Rob's leadership and well-positioned for its next wave of growth,” Ahearn said in a statement.

For his part Gillette hailed Ahearn for his “unwavering dedication to First Solar”.

“Mike has been steadfast in his commitment to First Solar's success and a champion of our mission,” Gillette said. “[I] look forward to continuing to work with him.”

Zhu meanwhile succeeds Jens Meyerhoff and will oversee First Solar's financial operations until a new CFO is named.

As announced in July, Meyerhoff is fully transitioned from his role as CFO to President of First Solar's Utility Systems business, which provides complete large-scale photovoltaic (PV) system solutions for utility customers.

”We are confident James will transition seamlessly into this new role given his deep experience and knowledge of our financials and financial systems,” Gillette said. “This also frees Jens to be fully dedicated to running our Global Utility Systems business and managing our 2.2 GW captive project pipeline, which will be key drivers of our future growth.”

Zhu joined First Solar in 2007 as Vice President and Corporate Controller and has been Chief Accounting Officer since 2009.

Prior to joining First Solar Zhu held positions in accounting and controlling at Salesforce.com, Chiron Corporation and KPMG, LLP. He is a Certified Public Accountant and earned a B.A. in economics in China and an M.B.A. in accounting from Golden Gate University.

For additional information:

First Solar, Inc.

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