Hanwha SolarOne names new CEO and execs

Hanwha SolarOne appointed Ki-Joon Hong as its new CEO and chose new CFO, CTO, and CCO as well.

June 27, 2011 – PRNewswire — Hanwha SolarOne Co. Ltd. (NASDAQ:HSOL), a vertically integrated manufacturer of silicon ingots, wafers and photovoltaic (PV) cells and modules in China, appointed Ki-Joon Hong as its new chief executive officer. Additional executive changes include the addition of Jung Pyo Seo as chief financial officer, Chris Eberspacher as chief technology officer, and Justin Koo Yung Lee as chief commercial officer.

The appointments will become effective July 1, 2011, and are intended to bolster SolarOne’s management systems and brand positioning and to enhance the company’s R&D and marketing capabilities through longer-term investment. As a part of these changes, Dr. Peter Xie and Gareth Kung will step down from their positions as president and chief executive officer and chief financial officer, respectively.

Hong is currently the Chairman of the Board of SolarOne and chief executive officer of Hanwha Chemical Corporation. He was previously the chief executive officer of Hanwha’s pharmaceutical and refinery businesses. Under his leadership, Hanwha Chemical entered into the solar energy and secondary battery businesses and also actively expanded its overseas operations, forming a joint venture in Saudi Arabia and building a PVC factory in Ningbo, Zhejiang, China. He received a bachelor of science in Chemical Engineering from Seoul National University.

Seo joins SolarOne from Azdel Inc, an automotive thermoplastic material manufacturer based in Virginia, where he was chief financial officer and chief operating officer. In his three and a half years at the company, he rebuilt the company’s cash and debt management systems and processes, implemented a new ERP system, managed commercial banking relationships, raised capital, and helped the company expand market share in a competitive market with rising raw material prices. He also played an important role in the acquisition and post-acquisition integration of Azdel Inc. by Hanhwa Corporation. Prior to joining Azdel, Seo held a variety of accounting, finance and sales-related roles at Hanwha Resorts Corporation and Hanwha Chemical Corporation over a twelve year period. He received an MBA with a concentration in finance from the University of Washington, and a bachelor of arts with a concentration in finance and accounting from Seoul National University.

Eberspacher is currently president of Hanwha Solar America and was previously CTO of Applied Materials’ solar business and was tasked with exploring next-generation crystalline wafer silicon and thin-film photovoltaic technologies and with managing the development and implementation of that company’s current-generation thin-film PV technology. From 2004 to 2007, Eberspacher was vice president of engineering and chief scientist at Nanosolar in Palo Alto, California, where he was in charge of developing a vertically-integrated capability for making efficient thin-film PV cells using innovative low-cost processes. From 1993 to 2004, he was co-founder and managing director of Unisun in Newbury Park, California, where he provided consulting services in technology, marketing and strategic planning for the photovoltaic and allied fields of photonics and electronics. From 1983 to 1993, Eberspacher held a variety of roles in research and development at Siemens Solar/ARCO Solar (now SolarWorld Industries) in Camarillo, California. Eberspacher received a Ph.D in applied physics from Stanford University and a bachelor of science from the University of Texas at Austin.

Lee joins SolarOne from Hanwha International in New Jersey. In his last two years at Hanwha International as vice president, Lee helped expand the Hanwha chemical business in new markets in North America. He was also instrumental in developing Hanwha’s strategic plan for entering the solar business in North America. Prior to this position, Lee spent 15 years managing a variety of businesses and products at Hanwha Chemical in Kuala Lumpur and Seoul. He received a degree in political science and diplomacy from Yonsei University in Seoul.

Hanwha SolarOne Co., Ltd. (NASDAQ: HSOL) is a vertically integrated manufacturer of silicon ingots, wafers, PV cells and modules. For more information, visit www.hanwha-solarone.com.

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