Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that the Board of Directors of the Company ("Board") has appointed Yan Zhuang, the Company's Senior Vice President and Chief Commercial Officer and President of Modules and System Solutions Business, as acting Chief Executive Officer while Dr. Shawn Qu, its founder and Chairman, President and Chief Executive Officer, is on a medical leave of absence. Mr. Zhuang will also continue in his current position.
Earlier this month, Dr. Qu was injured in an accident and is now recuperating in a hospital. Although Dr. Qu is making steady progress, it is uncertain at this time how long Dr. Qu's period of recuperation will be.
Dr. Qu commented: "During my absence, I will continue to be involved in all major decisions affecting the Company. I am fortunate to have assembled a strong senior management team over the past 10 years. I have known Yan for 30 years. In 2006, he became a director of Canadian Solar. In 2009, he resigned as a director and joined the Company as Vice President of Global Sales and Marketing and was later promoted to Chief Commercial Officer and President of the MSS Business. Over the past 10 years, Yan has helped build a world-class global sales team for the Company. I am confident that he will provide the day-to-day leadership needed during my absence."
Mr. Zhuang commented: "I have worked for Canadian Solar for over 13 years. The Company has a clear business plan and strategy. I am confident that, with the support of the Board and my fellow senior officers, the business of the Company will continue to run smoothly in Dr. Qu's absence."