AS Published on Sunday 10 July 2016 - n° 154 - Categories:the manufacturers
First Solar's CEO's four years of management experience
On 30 June, First Solar CEO Jim Hughes stepped down. This is an opportunity to look back on the career of the man who turned the company around and ensured its pre-eminence. When he arrived in 2012, the company was facing serious financial difficulties with a loss of $450 million in thefirst quarter of 2012 due to competition from Chinese panels. In thefirst quarter of 2016, net earnings reached $171 million. To achieve this, the CEO had to lay off employees and close plants. He expanded panel manufacturing to include the development and construction of large-scale plants. Above all, he pursued an R&D policy that made CdTe thin films competitive with silicon panels.
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