Monday, June 6, 2011

Former First Solar President Bruce Sohn named CEO of next-gen energy storage company Fluidic Energy (FSLR)

That's got to be a relief for the folks in Tempe. From our April 14 post "Jim Chanos (!) Spanks First Solar (!) FSLR)":
...Regarding the insider selling, we've chronicled billions of dollars worth highlighting the bails by Chairmen Ahern, former BFF Goldman Sachs and the Wal*ton interests.
More problematic might be an idea mooted by Auriga analyst Mark Bachman yesterday:

First Solar President Sohn May Leave to Join Rival Company, Analyst Says...
Bruce ran operations at FSLR, probably the last person you want going head to head with you.
Here's the release from Fluidic Energy: 
Fluidic Energy Announces Bruce Sohn as CEO
Mr. Sohn brings a wealth of experience in growing technology companies, including 24 years at Intel and most recently as the President of First Solar. Intel and First Solar both realized substantial growth during his tenure at each company.

In welcoming Mr. Sohn to Fluidic, Lee Scott, Fluidic's Chairman, commented, “We are excited that Bruce has decided to join Fluidic. His management style fits well with our company culture and his proven leadership skills and experience in high-growth tech companies are a perfect fit as we transition to the next stage of our growth.”...MORE
Mr. Sohn ran INTC's first volume 300mm fab.
Those plants cost at least $1 bil. to build. An operations guy all the way. As I said, not the guy you want competing with you.