TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (NASDAQ: FSLR) (the "Company") today announced that
following the Company's successful leadership transition, the First
Solar Board of Directors and James A. Hughes have mutually agreed that
Mr. Hughes will no longer serve in an advisory capacity to the Company
and will step down from the Board, effective September 1, 2016. As
previously announced on April 27, 2016, Mark R. Widmar was appointed
Chief Executive Officer, effective July 1, 2016.
"With Mark successfully assuming the role of Chief Executive Officer and
the management team continuing to execute our strategic growth plans,
the Board and Jim mutually agreed that now is an opportune time for this
transition," said Michael J. Ahearn, First Solar's Chairman of the
Board. "On behalf of the entire Board, I want to thank Jim for his many
contributions over the years. Jim is an experienced and talented leader
with many opportunities ahead of him. We wish him well in his future
endeavors."
With this Board change, First Solar's Board now is comprised of 11
members, nine of whom are independent directors.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
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 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 safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: effects on our financial statements and
guidance resulting from certain tax matters; our business strategy,
including anticipated trends and developments in and management plans
for our business and the markets in which we operate; future financial
results, operating results, revenues, gross margin, operating expenses,
products, projected costs (including estimated future module collection
and recycling costs), warranties, solar module efficiency and balance of
systems cost reduction roadmaps, restructuring, product reliability,
investments in unconsolidated affiliates and capital expenditures; our
ability to continue to reduce the cost per watt of our solar modules;
our ability to reduce the costs to construct PV solar power systems;
research and development programs and our ability to improve the
conversion efficiency of our solar modules; our ability to expand
manufacturing capacity worldwide; sales and marketing initiatives; and
competition. These forward-looking statements are often characterized by
the use of words such as "estimate," "expect," "anticipate," "project,"
"plan," "intend," "seek," "believe," "forecast," "foresee," "likely,"
"may," "should," "goal," "target," "might," "will," "could," "predict,"
"continue" and the negative or plural of these words and other
comparable terminology. Forward-looking statements are only predictions
based on our current expectations and our projections about future
events. You should not place undue reliance on these forward-looking
statements. We undertake no obligation to update any of these
forward-looking statements for any reason. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to differ materially from those expressed or
implied by these statements. These factors include, but are not limited
to, the matters discussed in Item 1A: "Risk Factors," of our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and other reports filed with the SEC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160902005668/en/
First Solar Media
Steve Krum
+1 602-427-3359
steve.krum@firstsolar.com
or
First
Solar Investors
Stephen Haymore
+1 602-414-9315
stephen.haymore@firstsolar.com
Source: First Solar, Inc.
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