SAN FRANCISCO and WUXI, China, April 23 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of
crystalline silicon photovoltaic (PV) modules, today announced the appointment
of Susan Wang to its Board of Directors. Ms. Wang is Suntech's sixth member of
the Board and fourth independent director. In addition to service on the Board,
Ms. Wang has also been appointed as a third member of Suntech's Audit
Committee.
Ms. Wang formerly served as the Executive Vice President of Corporate
Development and Chief Financial Officer for Solectron Corporation, a worldwide
provider of electronics manufacturing services, where she worked from 1984
until 2002 and during which she helped to guide Solectron's revenue growth
from $40 million in 1984 to over $14 billion in 2002. Prior to Solectron, Ms.
Wang held financial and managerial positions with Xerox Corporation and
Westvaco Corporation. She began her career with Price Waterhouse & Co. in New
York and is a certified public accountant. Ms. Wang received an MBA from the
University of Connecticut and a B.S. in accounting from the University of
Texas.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "In her former role as
Executive VP of Corporate Development and Chief Financial Officer of Solectron,
Susan was instrumental in guiding Solectron to grow into one of the largest
electronic manufacturing services companies in the world. Through that
experience, Susan acquired extensive knowledge of multi-national operations
and sales development, corporate finance and global M&A, all within a highly
innovative and growth oriented corporate culture much like Suntech's."
Dr. Shi added, "Susan's experience from the EMS industry will be
invaluable as Suntech moves to simultaneously enhance operating efficiency,
implement lean supply chain management and reduce manufacturing cost. Our
ongoing automation initiatives through our subsidiary KSL-Kuttler and the
transition to our high efficiency Pluto technology will be key drivers of
these efforts. We are delighted to welcome Susan to our Board of Directors,
and look forward to her guidance as we move to extend Suntech's leadership in
the solar industry."
Susan Wang currently serves as a director of four California-based, U.S.
listed companies: biopharmaceutical developer Nektar Therapeutics;
programmable semiconductor company Altera Corporation; optical networking
solutions provider Avanex Corporation; and chemical and radiation sensor and
detection device manufacturer Rae Systems Inc. In addition, Susan currently
serves on the board of directors of Premier Inc.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon solar
modules. Suntech designs, develops, manufactures, and markets premium quality,
high-output, cost-effective and environmentally friendly solar products for
electric power applications in the residential, commercial, industrial, and
public utility sectors. Suntech's patent-pending Pluto technology for
crystalline silicon solar cells improves power output by up to 12% compared to
conventional production methods. Suntech also offers one of the broadest
ranges of building-integrated solar products under the MSK Solar Design
Line(TM).
Suntech designs and delivers commercial and utility scale solar power
systems through its wholly owned subsidiaries Suntech Energy Solutions and
Suntech Energy Engineering and will own and operate projects greater than 10
megawatts in the United States through Gemini Solar Development Company, a
joint venture with Renewable Ventures, a Fotowatio company. With regional
headquarters in China, Switzerland and San Francisco and sales offices
worldwide, Suntech is passionate about improving the environment we live in
and dedicated to developing advanced solar solutions that enable sustainable
development. For more information, please visit http://www.suntech-power.com .
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 ability of Suntech to extend its leadership in the solar
industry. 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
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 further information, please contact:
In China:
Rory Macpherson
Investor Relations Director
Suntech Power Holdings Co., Ltd.
Tel: +86-21-6288-5574
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
SOURCE Suntech Power Holdings Co., Ltd.
-0- 04/23/2009
/CONTACT: In China: Rory Macpherson, Investor Relations Director, Suntech
Power Holdings Co., Ltd. at +86-21-6288-5574 or rory@suntech-power.com; In the
United States: Sanjay M. Hurry, Vice President, The Piacente Group, Inc.
(Investor Relations Counsel, Suntech) at +1-212-481-2050 or
suntech@tpg-ir.com/
/Web site: http://www.suntech-power.com /
(STP)
CO: Suntech Power Holdings Co., Ltd.
ST: China, California
IN: OIL ENV GRE
SU: PER
JH-AR
-- CNTH022 --
3026 04/23/2009 08:00 EDT http://www.prnewswire.com
