SPI Solar Appoints Charlotte Xi Interim Chief Financial Officer
ROSEVILLE, Calif. -- September 6, 2013
SPI Solar (“SPI”) (SOPW:OTCBB), a vertically integrated photovoltaic (“PV”)
solar developer, today announced the appointment of Charlotte Xi as interim
chief financial officer. This appointment follows Jim Pekarsky’s decision to
resign as SPI’s chief financial officer effective September 13, 2013 in order
to join an undisclosed private company as chief executive officer.
“I am excited to take on this new role as SPI continues to transition its EPC
expertise toward serving a geographically broader customer base,” said
Charlotte XI, interim chief financial officer. “I am looking forward to
working with solar industry partners to meet the needs of our customers as the
solar industry continues to mature and reach economies of scale.”
Xi, who was appointed to SPI’s board of directors on August 20, 2013, is an
experienced finance and operations executive, who most recently served as
senior vice president of global operations for Canadian Solar, Inc. Prior to
that, she served as Canadian Solar’s vice president of finance from August
2008 to November 2009 and compliance officer from September 2007 to November
2009. She served as corporate controller from February 2007 to July 2008. Her
experience also encompasses accounting, compliance and finance roles with
companies such as ARAMARK Corporation, a Fortune 500 company, and TV Guide
Magazine in the United States, where she was responsible for financial
reporting and implementing Sarbanes-Oxley compliance during the first year of
its corporate compliance requirement. Ms. Xi holds a bachelor's degree from
Shanghai Teachers University and MA and MBA degrees from the Midwestern State
University in Texas. She is also a member of the AICPA and has been a
Texas-licensed CPA since 1996.
“We are pleased with Charlotte’s decision to step in as interim chief
financial officer, especially given the breadth and depth of experience that
she brings to SPI,” said Xiaofeng Peng, chairman of the board of SPI and LDK.
“Her experience at Canadian Solar during a period of significant growth will
be essential in helping SPI continue to navigate the challenging solar
environment while pursuing global EPC growth opportunities,” continued Peng.
“This appointment marks continued progress against our goal of building out
SPI’s experienced management team, including recent leadership additions among
management and board members, to work toward improving SPI’s financial results
and stockholder value.”
About SPI Solar (SOPW:OTCBB):
SPI Solar (“SPI”) (Solar Power, Inc.) is a vertically integrated photovoltaic
solar developer offering its own brand of high-quality, low-cost distributed
generation and utility-scale solar energy facility development services. From
project development, to project financing and to post-construction asset
management, SPI delivers turnkey world-class photovoltaic solar energy
facilities to its business, government and utility customers. For additional
information visit: www.spisolar.com.
Safe Harbor Statement:
This release may contain certain “forward-looking statements” relating to the
business of SPI Solar, its subsidiaries and the solar industry, which can be
identified by the use of forward-looking terminology such as “believes",
“expects” or similar expressions. These statements involve known and unknown
risks and uncertainties, including, but are not limited to, general business
conditions, managing growth, and political and other business risk. All
forward-looking statements are expressly qualified in their entirety by this
cautionary statement and the risks and other factors detailed in the company's
reports filed with the Securities and Exchange Commission. The company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities law.
Solar Power, Inc.
Min Xiahou, 800-548-8767
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