First Solar Inc. has nominated two new candidates for election to the company's board of directors and has expanded the size of the board to eleven from nine, creating two vacancies as it continues to seek additional independent directors.
The company has nominated George Hambro and Richard Chapman. Their positions will be voted on at the company's upcoming general meeting, which is scheduled to be held May 23. Chapman is chief financial officer of Walton Enterprises Inc., where he has worked since 1983. Hambro previously held various positions at First Solar from June 2001 through June 2009.
To fill the two new vacancies, First Solar has retained an executive search firm to help identify candidates. The company says it is seeking candidates that will support the company's strategy to compete as a vertically integrated provider of photovoltaic power plants in energy markets that are sustainable without subsidies.
Jose Villarreal, a director since 2007, plans to retire from the board due to personal commitments and will not seek re-election at the annual meeting.