First Solar has had a revolving door in the C-Suite over the past few years. In 2009, founder Michael Ahearn stepped down as CEO, leaving the corner office for former Honeywell Aerospace CEO Robert Gillette. But earlier this year Gillette was fired and Ahern stepped back in as interim CEO. In May, the company hired James Hughes, who was the chief operating officer for two months before taking the top job.

There have also been changes in the position of chief technology officer and COO in recent months, so the team at the top of First Solar is very inexperienced. Hughes will continue the company's new strategy started under Ahearn so there is some consistency, but the revolving door has to concern investors.