SAN FRANCISCO and WUXI, China, July 13, 2010 /PRNewswire via COMTEX/ --
Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest producer of crystalline
silicon solar panels, today announced that Ms. Amy Yi Zhang will assume a new
role as Vice President in charge of Suntech's strategic project finance
initiatives. Ms. Zhang has served as Suntech's Chief Financial Officer since
August 2005 and a director since 2007.
"Amy Zhang has served a vital role in the growth and global expansion of
Suntech to date and we are extremely grateful for her enormous contribution as
CFO," said Dr. Zhengrong Shi, Suntech's Founder, Chairman and CEO. "As we look
to Suntech's future, we believe project financing initiatives will be an
integral component of our evolution as a leading provider of solar solutions
worldwide. Given her rich history with Suntech and deep understanding of the
solar industry along with her financial acumen and extensive knowledge of
project economics, she is the natural and ideal figure to help spearhead our
project strategies globally."
In her new role, Ms. Zhang will focus on strategic initiatives including
building stronger relationships with key project finance partners and
developing value-added solutions to support sales growth. Ms. Zhang said, "I
am proud of helping to guide Suntech's development into a world leading solar
company. As new generations of solar manufacturing technology emerge and are
commercialized, I am convinced that solar will continue to assert itself as an
economically viable alternative to traditional sources of energy generation. I
look forward to focusing on key project initiatives that will help to fuel
Suntech's ongoing growth and support our ability to deliver solar effectively
across the globe."
Suntech has initiated an external search to identify and recruit a chief
financial officer. Ms. Zhang will continue as chief financial officer until a
successor has been chosen. Ms. Zhang will remain a director on the board.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) produces industry-leading
solar products for residential, commercial, industrial, and utility
applications. With regional headquarters in China, Switzerland, and the United
States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more
than 10,000,000 photovoltaic panels to over a thousand customers in more than
80 countries. Suntech's pioneering R&D creates customer-centric innovations
that are driving solar to grid parity against fossil fuels. Our mission is to
provide everyone with reliable access to nature's cleanest and most abundant
energy source.
For more information about our people and products 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 "plans to", "expects to," "anticipates,"
"future," "intends to," "plans," "believes," "considers" and similar
statements, and includes the ability of Suntech's project development and
project financing initiatives to fuel ongoing growth and the timing of the
appointment of a successor as CFO. 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:
Suntech Power Holdings, Co. Ltd.
Rory Macpherson
Investor Relations Director
Tel: +1-415-268-8975
Email: rory@suntech-power.com
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
Kristen McNally
Executive Vice President
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
SOURCE Suntech Power Holdings Co., Ltd.
