LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic (PV) products, today announced that Mr. Yonggang Shao, an Executive Director and Executive Vice President of Corporate Strategy at LDK Solar, resigned for personal reasons, effective June 30, 2012. Effective immediately, Mr. Shao will serve as Chairman Peng’s consultant under a new agreement.
The resignation of Mr. Shao does not affect the composition of the Audit, Compensation or Nominating and Corporate Governance Committees of LDK Solar’s Board.
Mr. Xiaofeng Peng, Chairman and CEO of LDK Solar, stated: "We are grateful to Yonggang Shao for his valuable service during his tenure with the company. We wish him well in his future endeavors. I am confident that Mr. Shao will continue to contribute his expertise to LDK Solar as he switches his role to the Chairman’s consultant going forward."