Struggling First Solar hires new CEO
Tempe-based First Solar has hired a new CEO. As KJZZ’s Mark Moran reports, the company has been struggling as of late.
MARK MORAN: If you look at the headlines from a year ago, almost to the date, they read: 'First Solar released a statement saying their profits were down because demand for solar panels had fallen off in Europe.' And that, they said, was because governments there had reduced incentives for installing solar technology. Fast forward to today, and the headline is nearly the same: Earnings down, European demand down. The only real difference is that the company now has a new CEO, James Hughes, who has been First Solar’s Chief Commercial Officer and will take over for Rob Gillette, who was fired earlier this year. Hughes will take the reigns with the company just having reported a $163 million loss in the first quarter compared to the end of last year.