Solar Strategy shakeup as CEO leaves

摘要

First Solar slashed its forecasts for sales and profit in 2011 after ousting CEO Rob Gillette, saying it needed a shift in strategy to survive falling prices for solar panels. Gillette aggressively expanded First Solar's production, almost doubling its capacity in a bet that thin-film panels could compete against polysilicon panels. Demand and prices for solar gear have been falling, driven down in part by increased output of polysilicon panels from Chinese manufacturers. Gillette is the third high-level executive at First Solar to leave this year.