First Solar, Inc. : First Solar Appoints James Hughes CEO
05/03/2012| 04:25pm US/Eastern
First Solar, Inc. (NASDAQ: FSLR) today announced that James Hughes has
been appointed Chief Executive Officer. Hughes succeeds Mike Ahearn,
First Solar's founder and Chairman, who has been serving as interim CEO
since Oct. 2011. Hughes joined First Solar in March as Chief Commercial
Officer. Ahearn will continue in his role as Chairman of the Board.
"Jim has been instrumental in developing the strategic plan that will
enable us to compete and win in this new era for the solar industry, and
it became clear he is the right person to lead the execution of that
plan," said Ahearn. "Jim brings a wide range of experience that will be
invaluable in leading our organization, having owned and operated
utilities, built power projects, cultivated partnerships and led
profitable growth in a wide array of key markets around the world."
"I am excited for this opportunity to lead First Solar into a new era
for the industry," said Hughes. "First Solar is unrivaled in terms of
talent and experience and has the premier platform from which to
implement solar power at a meaningful scale around the world. The rapid
cost reductions in the industry position solar at the threshold of the
mainstream energy markets, and we are well-positioned to capitalize on
Hughes has nearly 20 years of experience in the global energy industry.
Before joining First Solar, he served as the CEO of AEI, which owned and
operated power distribution, conventional and renewable power
generation, natural gas transportation and natural gas distribution
businesses in 19 countries. Prior to that, he was President and Chief
Operating Officer for Prisma Energy.
Hughes earned a juris doctor from the University of Texas at Austin
School of Law, a Certificate of Completion in international business law
from Queen Mary's College, University of London, and a bachelor's degree
in business administration from Southern Methodist University.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. The
company's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module collection and
recycling, First Solar's renewable energy systems protect and enhance
the environment. For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant
to the safe harbor provisions of Section 21E of the Securities Exchange
Act of 1934. The forward-looking statements in this release do not
constitute guarantees of future performance. Those statements involve a
number of factors that could cause actual results to differ materially,
including risks associated with the company's business involving the
company's products, their development and distribution, economic and
competitive factors and the company's key strategic relationships and
other risks detailed in the company's filings with the Securities and
Exchange Commission. First Solar assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein.
First Solar, Inc.
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© Business Wire 2012