Hanwha SolarOne Co., Ltd. ("Hanwha SolarOne" or the "Company") (NASDAQ: HSOL), a vertically integrated manufacturer of silicon ingots, wafers, and photovoltaic ("PV") cells and modules in China, announced that its Board of Directors has appointed new members to the Company's senior management.
The Board of Directors has appointed Mr. Hee Cheol Kim, who is a member of the board and also currently serves as the strategic planning team head of Hanwha Group, as President of Hanwha SolarOne. In his new role as President, Mr. Kim will oversee general management of the Company, including sales, marketing, R&D and production. Mr. Ki-Joon HONG, Chairman of the Board of Directors and CEO, will oversee the Company's overall strategy.
Prior to joining Hanwha SolarOne, Mr. Kim was CEO of Hanwha L&C Azdel, a U.S.-based motor parts manufacturing company, where he led the company through the recent global financial crisis. Prior to joining Hanwha Azdel, he worked in various positions at Hanwha Group, where he led the restructuring of Hanwha Group's business portfolio during a serious financial crisis in Korea in 1997, and successfully laid the groundwork for Hanwha Group's future growth. Mr. Kim earned his bachelor's and master's degrees from Seoul National University.
Mr. Ki-Joon HONG, Chariman and CEO of Hanwha SolarOne, said, "Mr. Hee Cheol Kim has demonstrated excellent leadership and management abilities. Having effectively stabilized and restructured two major companies during challenging financial circumstances, Mr. Kim is well prepared to lead Hanwha SolarOne through these tough economic times."
The Board of Directors has also appointed Mr. Dong Kwan Kim, a current board member, as the Company's Chief Strategy Officer. Mr. Kim joined Hanwha Group in January 2010 and has served as a managing director of Management & Planning HQ at Hanwha Group. He became a board member of Hanwha SolarOne in December 2010.
Mr. Tom Toy, a board member of Hanwha SolarOne, said, "Our board members have full confidence in Mr. Dong Kwan Kim's ability to direct the Company's strategy as CSO."