China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced that Mr. Tingxiu Lu, an industry veteran, chairman of the board and one of the company's founders, will rejoin the Company's executive management team as Chief Executive Officer, effective in September. Mr. Stephen Zhifang Cai, China Sunergy's former chief executive officer, tendered his resignation from the Company for personal reasons.
Mr. Lu served as the Company's chief executive officer from October 2006 to July 2007 and continuously served as Chairman of the board since 2007. He brings broad operational, management and technological experience, and deep industry knowledge to China Sunergy. Mr. Lu graduated from an executive business management program at Tsinghua University in 2006.
Mr. Lu commented, "In recognition of Stephen's service, I would like to extend my personal appreciation for his dedicated services and contributions to China Sunergy, especially in the past several years when the solar industry has undergone very challenging dynamics. I am honored, energized and very excited to be back in a highly active role with the Company. I will focus on the strategic initiatives in the hope of revitalization, innovation and creation of value for our customers and shareholders."
Upon the appointment of Chief Executive Officer, Mr. Lu will retire from all of his executive positions in China Electric Equipment Group Co., Ltd., or CEEG.
