Suntech Appoints Philip Fan and Weiping Zhou to Board of Directors
Mr. Zhou Appointed President of Suntech
WUXI, China, March 19, 2013
WUXI, China, March 19, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), one of the world's largest producers of solar panels, today
announced it has appointed two new directors to the Company's Board of
Directors effective immediately. Mr. Philip Fan has been appointed as an
independent director and Mr. Weiping Zhou has been appointed as an executive
director of the board and President of Suntech. With the new appointments,
Suntech's board of directors now has seven members including four independent
"We are delighted to welcome Mr. Fan and Mr. Zhou to Suntech's board of
directors," said Ms. Susan Wang, Suntech's chairwoman. "Mr. Fan brings deep
experience across multiple industries and is a seasoned director of publicly
listed companies, and Mr. Zhou has broad experience in executive and financial
management positions during his time at Guolian Group. We are confident that
their knowledge and expertise will be invaluable as we navigate near-term
challenges and realize Suntech's long-term potential in the solar industry."
Mr. Fan was formerly an executive director and is now an independent
non-executive director of Hong Kong Stock Exchange listed China Everbright
International Ltd., a developer and operator of multiple waste-to-energy and
wastewater treatment plants in China. He also serves as an independent
non-executive director at HKC (Holdings), Hysan Development Co., First Pacific
Co., Zhuhai Zhongfu Enterprise Co. Ltd and Goodman Group. Prior to that, Mr.
Fan was an executive director of CITIC Pacific Ltd in charge of industrial
projects in China. Mr. Fan holds a Bachelor's degree in industrial
engineering, a Master's degree in Operations Research from Stanford University
and a Master's degree in Management Science from the Massachusetts Institute
As President of Suntech, Mr. Zhou will manage business operations and work
with Mr. David King, Suntech's CEO, and the board to define the strategic
direction of the Company. Prior to joining Suntech, Mr. Weiping Zhou served as
chairman of Guolian Futures Co., Ltd and finance department manager of Guolian
Development (Group) Co. Ltd. Prior to that, he held management roles at
Guolian Securities and Hengda Securities. Mr. Zhou holds a Bachelor's degree
in accounting from Hebei College, and an executive MBA from Southeast
University in China.
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces solar products for
residential, commercial, industrial, and utility applications. With regional
headquarters in China, Switzerland, and the United States, and gigawatt-scale
manufacturing worldwide, Suntech has delivered more than 25,000,000
photovoltaic panels to over a thousand customers in more than 80 countries.
Suntech's pioneering R&D creates customer-centric innovations that are
designed to drive solar to grid parity against fossil fuels. Suntech's mission
is to provide everyone with reliable access to nature's cleanest and most
abundant energy source.
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 Company's ability to navigate near term challenges and
realize long-term potential in the solar industry. 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 media enquiries, please contact:
Weber Shandwick for Suntech
Ph: +86 21 2411 0046
SOURCE Suntech Power Holdings Co., Ltd.
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