Tuesday, October 25, 2011

What the?...First Solar CEO Out; Replaced by Chair Ahern (FSLR)

Holy crap!
The only thing worse than an unexpected CEO adios is if the CFO leaves.
Oh wait...
There might be a story here.

From Barron's Tech Trader Daily:
Effectively immediately, Rob Gillette is no longer chief executive officer at First Solar, which just sent out a terse press release stating chairman and company founder Mike Ahearn will serve as interim CEO.
No further explanation was offered....MORE
The stock is down 18.20% at $47.20
And Ahern is almost out of exercisable options!
Here's the press release. The company thanks Mr. Gillette for his service.
First Solar Announces Chairman Michael Ahearn to Serve as Interim CEO

First Solar Closes at Lowest Level in Four Years, Former Chairman Parties (FSLR)