| LOS ANGELES, Sept 12
LOS ANGELES, Sept 12 The chief executive of thin
film solar startup Nanosolar Inc has left after less than eight
months on the job, the company said on Tuesday.
Eugenia Corrales, who was named CEO in January, left "to
pursue other ventures," Nanosolar said. Corrales had previously
served as the company's executive vice president of engineering
Also on Tuesday, the San Jose, California, company appointed
Karl Steigele, a former International Business Machines Corp
executive, to the newly created post of president and
chief operating officer. It also said Executive Chairman Guido
Polko will be taking a more active role in managing the company.
Nanosolar is one of a handful of Silicon Valley startups
that makes solar panels from copper indium gallium selenide, or
CIGS. CIGS technology holds the promise of having cheap
production costs combined with cell efficiency near the best of
traditional silicon-based solar cells. Solyndra, the bankrupt
solar panel maker that received a government loan guarantee,
also used CIGS technology.
But CIGS panels have been slower to achieve mass production
because of the complicated manufacturing process needed to
combine the four materials. In addition, CIGS has seen stiff
competition from silicon-based panels, prices on which have
In the statement, Polko said Nanosolar was "well positioned"
for global growth. The company's investors include Benchmark
Capital, Mohr Davidow Ventures, Energy Capital Partners and AES
Solar, and it raised $70 million in new capital earlier this