Suntech Power names new chairwoman

Suntech Power Holdings Co, a leading Chinese solar panel maker, said on Monday that it has named director Susan Wang as its chairwoman, replacing Shi Zhengrong, who will stay on as a board member.

Shi is the founder and former CEO of Suntech. The company is one of the most well-known and biggest solar panel makers in China, but has been under pressure after the United States last year decided to impose anti-subsidy and anti-dumping duties on panels made in China. It also has a $575 million convertible debt due in March.

Wang has been a director at Suntech since 2009. She also served as the executive vice-president of corporate development and CFO of Solectron Corp, a global provider of electronics manufacturing services.