LDK Solar officially announced the resignation of Mr. Xingxue Tong as President and Chief Executive Officer, effective immediately, for his personal reasons. The Company's Chairman, Mr. Zhibin Liu, will assume as the President and Chief Executive Officer of LDK Solar. In the meantime, the Company will retain Mr. Tong, and Mr. Tong has agreed to be so retained, as a senior consultant to LDK Solar, to ensure a smooth transition in the management of the Company.
"We are grateful to Mr. Tong for his dedicated services as a leader of our senior management team over the past nine years. We thank him for his wisdom and wish to acknowledge him for his efforts and contributions during his tenure at the Company. While we are pleased to continue our relationship with Mr. Tong in his advisory capacity, LDK Solar is determined to work hard in the current and forthcoming economic environment, to meet its challenges ahead in its continued restructuring, and to build itself up into a reputable player in the photovoltaic industry. Finally, we wish Mr. Tong well in his future endeavors," Mr. Zhibin Liu, Chairman, President and CEO of LDK Solar, commented.