SAN FRANCISCO and WUXI, China, April 23 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of crystalline silicon photovoltaic (PV) modules, today announced the appointment of Susan Wang to its Board of Directors. Ms. Wang is Suntech's sixth member of the Board and fourth independent director. In addition to service on the Board, Ms. Wang has also been appointed as a third member of Suntech's Audit Committee.
Ms. Wang formerly served as the Executive Vice President of Corporate Development and Chief Financial Officer for Solectron Corporation, a worldwide provider of electronics manufacturing services, where she worked from 1984 until 2002 and during which she helped to guide Solectron's revenue growth from $40 million in 1984 to over $14 billion in 2002. Prior to Solectron, Ms. Wang held financial and managerial positions with Xerox Corporation and Westvaco Corporation. She began her career with Price Waterhouse & Co. in New York and is a certified public accountant. Ms. Wang received an MBA from the University of Connecticut and a B.S. in accounting from the University of Texas.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "In her former role as Executive VP of Corporate Development and Chief Financial Officer of Solectron, Susan was instrumental in guiding Solectron to grow into one of the largest electronic manufacturing services companies in the world. Through that experience, Susan acquired extensive knowledge of multi-national operations and sales development, corporate finance and global M&A, all within a highly innovative and growth oriented corporate culture much like Suntech's."
Dr. Shi added, "Susan's experience from the EMS industry will be invaluable as Suntech moves to simultaneously enhance operating efficiency, implement lean supply chain management and reduce manufacturing cost. Our ongoing automation initiatives through our subsidiary KSL-Kuttler and the transition to our high efficiency Pluto technology will be key drivers of these efforts. We are delighted to welcome Susan to our Board of Directors, and look forward to her guidance as we move to extend Suntech's leadership in the solar industry."
Susan Wang currently serves as a director of four California-based, U.S. listed companies: biopharmaceutical developer Nektar Therapeutics; programmable semiconductor company Altera Corporation; optical networking solutions provider Avanex Corporation; and chemical and radiation sensor and detection device manufacturer Rae Systems Inc. In addition, Susan currently serves on the board of directors of Premier Inc.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar energy company as measured by production output of crystalline silicon solar modules. Suntech designs, develops, manufactures, and markets premium quality, high-output, cost-effective and environmentally friendly solar products for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's patent-pending Pluto technology for crystalline silicon solar cells improves power output by up to 12% compared to conventional production methods. Suntech also offers one of the broadest ranges of building-integrated solar products under the MSK Solar Design Line(TM).
Suntech designs and delivers commercial and utility scale solar power systems through its wholly owned subsidiaries Suntech Energy Solutions and Suntech Energy Engineering and will own and operate projects greater than 10 megawatts in the United States through Gemini Solar Development Company, a joint venture with Renewable Ventures, a Fotowatio company. With regional headquarters in China, Switzerland and San Francisco and sales offices worldwide, Suntech is passionate about improving the environment we live in and dedicated to developing advanced solar solutions that enable sustainable development. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and includes the ability of Suntech to extend its leadership in the solar industry. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Suntech's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Suntech does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
