| Calisolar today announced the appointment of Sandra Beach Lin as the company’s Chief Executive Officer. The move is the latest step in building the executive team to lead the company through its rapid scale-up into a high-volume, low-cost manufacturer. "With the selection of Sandy as CEO, we are adding an experienced leader who knows how to run large, international organizations, set strategy, develop and promote team leadership, increase productivity, drive growth and foster innovation," said Calisolar Chairman of the Board John D. Correnti. "As the perfect complement to a very experienced management team, we are now well positioned to continue our expansion efforts to meet the high demand for our products." Added Correnti, "We want to thank our former CEO, Roy Johnson, for a job well done in leading the company from development through commercialization." Over the past few months, Calisolar has achieved a number of key milestones in concluding its commercialization phase, including IEC certification, surpassing one million cells shipped, achieving a shipping rate of 1 megawatt per week and utilizing volume shipments of solar silicon from its own purification operations in Ontario, Canada. Several megawatts of Calisolar cells are now connected to the grid and generating clean, renewable energy, including large installations greater than 1 megawatt in size. In addition, the company recently received the top ranking out of a total of 44 participants that were evaluated for the California Energy Commission Clean Energy Business Financing Program. Calisolar will use the additional financing to continue its expansion. Commenting on her reasons for joining Calisolar, Sandra Beach Lin said "Calisolar’s high-performance solar cells, manufactured using low-cost silicon feedstock, utilize the right technology at the right time to help support the world’s growing need for renewable energy. The company is experiencing overwhelming demand for its products. The Calisolar team has built a strong business plan based on commercializing its technological innovations and demonstrated success in penetrating a large and rapidly growing market. I look forward to driving the next phase of global growth, increasing productivity across the organization and continuing to develop the innovative technologies needed to lower the cost of solar." Ms. Lin has repeatedly demonstrated skill in creating economic value and growth through innovation and global expansion. An experienced business unit President, she has successfully led multiple global businesses with billions of dollars of sales. Ms. Lin joins Calisolar from Celanese Corporation, a $5.1 billion global chemical company, where she served as Corporate Executive Vice President. Most recently, she was responsible for driving global strategic leadership for the company’s activities related to sustainability. The divisions she led generated more than $2.0 billion in revenues and with 3,500 employees in 13 facilities around the world. She has previously held executive-level positions at Avery Dennison, Alcoa and Honeywell International. Ms. Lin is a member of the board of directors of WESCO International, a $4.6 billion Fortune 500 company, where she serves as Chair of the Nominating and Governance Committee and member of the Compensation Committee. Ms. Lin earned a BBA degree in Production and General Management from the University of Toledo, graduating magna cum laude in 1980. In addition, she earned an MBA degree in 1982 from the University of Michigan with a concentration in Marketing, Policy and Control. |
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