By Krishna N Das, Reuters:
U.S. solar and biofuel companies are struggling to find new top executives after a string of departures over the past year, demonstrating a lack of faith among executives that the sector can recover from a supply glut that has hammered share prices.
Almost all the top U.S.-listed solar companies, including First Solar Inc, SunPower Corp, Canadian Solar Inc and JA Solar Holdings Co, have seen either their CEO or CFO leave over the past year.
The turnover has coincided with a rapid decline in solar companies’ pricing power as subsidy cuts in Europe hit demand and surging production in China adds to supplies.
With frequent changes and very little succession planning, investors are getting increasingly frustrated…. Read more