Suntech taps four new execs for European division

* Chinese solar panel maker hires four new execs

* Co has quadrupled European workforce in 2009

* Shares close up nearly 4 pct at $13.18 per share

LOS ANGELES, Nov 9 (Reuters) - Chinese panel maker Suntech Power Holdings Co Ltd (STP.N) said on Monday that it hired four new executives to its European management team.

Suntech, China's biggest producer of silicon-based solar panels, has quadrupled its European workforce since the beginning of 2009.

Like much of the industry, Suntech has faced falling panel prices and a lack of financing for new projects. Asian solar players that are producing at lower prices have put heat on many European and U.S. solar competitors.

The company said David Hogg will head Suntech's European division while Vedat Guergeli, who previously worked at Conergy AG CGYG.DE, will be the new vice president of sales for the region. Frank Weber and Carl von Braun will direct marketing and project finance efforts in Europe, respectively.

Shares of Suntech closed up nearly 4 percent at $13.18 in trading on Monday on the New York Stock Exchange. (Reporting by Laura Isensee, editing by Leslie Gevirtz)