Hanwha SolarOne Appoints New Chairman and Chief Executive Officer
SHANGHAI, April 30, 2014
SHANGHAI, April 30, 2014 /PRNewswire/ -- Hanwha SolarOne Co., Ltd. (the
"Company", or "Hanwha SolarOne"), a top-10 global photovoltaic ("PV")
manufacturer of high-quality, cost-competitive solar modules, today announced
the appointment of Seong-woo Nam as Chief Executive Officer (CEO) and Chairman
of the Board of Directors. Seong-woo Nam brings to Hanwha SolarOne rich
experience and expertise in a broad range of management disciplines with a
strong track record of achievement. His experience and leadership will help
Hanwha SolarOne achieve its goal to become one of the leading companies in the
solar power industry.
A 30-year management veteran, Seong-woo Nam joins Hanwha SolarOne from Samsung
Electronics, where he recently served as the executive vice president and
general manager of Samsung's IT Solutions Business, which includes its PC
Business and Printer Business with 13,000 employees and revenues approaching
$9 billion. While under Mr. Nam's direction the IT Solutions business
experienced in four years a more than three-fold increase in revenues, sales
into 90 new countries, expansion of manufacturing scale, and a more than 300%
gain in market share.
Prior to leading the IT Solutions Business at Samsung, Mr. Nam spent eight
years directing the Business Innovation team across a broad range of business
segments including Planning, Supply Chain Management (SCM), Logistics, and
Information Strategy. Under his leadership the Company launched global SCM,
achieved cost reduction, and introduced process efficiencies across all global
"I'm excited to join Hanwha SolarOne, where I will contribute my experience in
strategic management, corporate governance and brand building to achieve fast
and sustainable growth for the company," said Seong-woo Nam, "I am committed
to improving Hanwha SolarOne's position in the photovoltaic industry and
establishing the company as a respected leader in product quality, low-cost
manufacturing, product innovation and strong financial performance."
The Board of Directors also accepted the resignation of President and Board
member Min-Su Kim and appointed Jay Seo, Chief Financial Officer and Head of
China Business as a member of the Board of Directors.
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is one of the top 10 photovoltaic
module manufacturers in the world, providing cost-competitive, high quality PV
modules. It is a flagship company of Hanwha Group, one of the largest business
enterprises in South Korea. Hanwha SolarOne serves the utility, commercial,
government and residential markets through a growing network of third-party
distributors, OEM manufacturers and system integrators. The company maintains
a strong presence worldwide, with a global business network spanning Europe,
North America, Asia, South America, Africa and the Middle East. As a
responsible company committed to sustainability, Hanwha SolarOne is an active
member of the PV Cycle take-back and recycling program. For more information,
please visit: www.hanwha-solarone.com
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.
Among other things, the quotations from management in this press release and
the Company's operations and business outlook, contain forward-looking
statements. 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
Hanwha SolarOne's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. Except as required by law, the
Company does not undertake any obligation to update any forward-looking
statements, whether as a result of new information, future events or
SOURCE Hanwha SolarOne Co., Ltd.
Contact: Investor Contact, Paul Combs, Tel: +86-21-3852 1533, Mobile: +86 138
1612 2768, firstname.lastname@example.org
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