Solar panel maker Suntech's interim CFO steps down

Wed Oct 10, 2012 5:45pm EDT

Oct 10 (Reuters) - Suntech Power Holdings Co Ltd, the world's largest maker of solar panels, said its interim chief financial officer Anlin Ting-Mason had stepped down due to personal reasons.

The Chinese solar panel maker, which is struggling to shore up finances amid a growing cash shortfall, said Chief Executive David King will become acting CFO while the company looks for Mason's replacement.

King was Suntech's CFO before he took over as CEO in August.

Mason will continue as CFO of Suntech America, the company said in a regulatory filing.

The company has witnessed a string of executive departures in the last couple of months. Founder and CEO Zhengrong Shi stepped down in August and chief commercial officer Andrew Beebe resigned last month.

Almost all the top U.S.-listed solar companies, including First Solar Inc, Canadian Solar Inc and JA Solar Holdings Co, have seen either their CEO or CFO leave over the past year.

Shares of Suntech closed at 89 cents on Wednesday on the New York Stock Exchange. The company said last month it did not meet the exchange's criteria for continued listing.

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