Suntech Power Holdings Co. Ltd. says that Zhengrong Shi will leave his role as CEO, while serving as executive chairman of the board and assuming the position of chief strategy officer. David King has been appointed the new CEO of Suntech.
‘At this time, I believe it's important to devote more of my time to guiding the strategic direction of the company, building relationships with key partners and driving the ongoing development of Suntech's leading solar technology,’ Shi says.
Anlin Ting-Mason, currently chief financial officer of Suntech America, will assume the role of the company's interim chief financial officer.
King joined Suntech in May 2011 as chief financial officer. Before joining Suntech, he served as the chief financial officer and treasurer of Tetra Tech Inc., a provider of consulting, engineering, program management, construction and technical services addressing the resource management, energy and infrastructure markets.
The unexpected personnel move comes as Suntech continues its investigation into a company that allegedly provided it with a fraudulent 560 million euro investment.