Recs

1

Suntech Power CEO Resigns

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Wuxi, China-based Suntech Power Holdings Co. (NASDAQOTH: STPFQ  ) got a new CEO today.

On Friday, Suntech announced that Chief Executive Officer and acting Chief Financial Officer David King is stepping down from both roles in favor of company President -- now also company interim CEO and interim CFO -- Mr. Zhou Weiping.

In a statement, the latter executive thanked King for his service and added, "I'm confident that I will be able to lead the company and, along with all our stakeholders, implement the restructuring plan over the coming months."

Suntech said that its board will begin searching for a new permanent CFO. The company did not say whether it will also be seeking a new permanent CEO, or whether it will make Mr. Zhou Weiping's interim position permanent.

Suntech shares are up strongly on the news, rising more than 8% in late-day trading.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2637384, ~/Articles/ArticleHandler.aspx, 7/2/2015 7:15:20 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated Moments ago Sponsored by:
DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASD 5,009.21 -3.91 -0.08%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

7/2/2015 3:43 PM
STPFQ $0.34 Down -0.03 -8.30%
Suntech Power Hold… CAPS Rating: *

Advertisement