First Solar Initiates Succession Process to Recruit Next CEO

TEMPE, Ariz.--(BUSINESS WIRE)--First Solar, Inc. (Nasdaq: FSLR) announced today that it has initiated a process to recruit its next chief executive officer to succeed Michael Ahearn. Upon selection of a new chief executive officer, Ahearn will continue to serve in the full-time position of executive chairman. In this role Ahearn will focus his efforts at First Solar on the development of public policies needed for the global transition to low-carbon energy infrastructures.

“We are rapidly reaching the point where the evolution of the energy industry will be constrained not by technology or product costs, but rather by policies, programs and institutions that cannot adapt rapidly to the innovations that are occurring in clean energy,” said Ahearn. “Given First Solar’s leadership position in the industry, I believe we are in a unique position to make a valuable contribution to those policy discussions. This will require virtually full-time focus from the very top of the organization. As a major shareholder and founder of the Company, I remain committed to its success.”

The Company has initiated an external search for a new chief executive officer, led by a committee of the Board of Directors. The Board intends to run a thorough and deliberate process designed to identify and recruit a candidate consistent with specific criteria developed with the existing management team and required to lead the Company in executing its long-term strategic plan.