September 7, 2012 / 1:15 PM / 5 years ago

Suntech's chief commercial officer resigns

Sept 7 (Reuters) - Suntech Power Holdings Co Ltd, the world’s largest maker of solar panels, said its chief commercial officer Andrew Beebe had resigned due to personal reasons.

The Chinese company said it does not intend to find a replacement for Beebe and that its sales and marketing will be overseen by the chief executive officer.

Beebe’s resignation comes less than a month after the company’s founder and Chief Executive Zhengrong Shi resigned.

Andrew Beebe -- who joined the company in 2008 following Suntech’s acquisition of California-based regional solar installer EI Solutions -- would retire from the company in a couple of months, Suntech added.

Beebe’s resignation follows a string of top executive departures at U.S. solar and biofuel companies over the past year as the sector continues to suffer from a supply glut that has hammered share prices.

The announcement also comes in the middle of an investigation launched by the European Commission on Thursday into suspected dumping of solar panels by Chinese producers.

Suntech’s shares, which have lost 60 percent of their value this year, closed at 78 cents per share on the New York Stock Exchange on Thursday.

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