FTC Solar changes Chief Executive Officer in the middle of 'difficult operational setting'

• US tracker manufacturer FTC Solar will replace its Chief Executive Officer Tony Etnyre after two-and-a-half years in the function with ex-SunEdison and semiconductor company senior officer Sean Hunkler.

The change will occur on 24 September, with Etnyre remaining to sustain the business on critical matters as well as service growth via a shift duration reaching into 2022.

Chairman of the FTC Solar board of directors, T.J. Rodgers, said the relocations comes amidst "a tough operational atmosphere" that is challenging the business. "The choice of Sean Hunkler to be successful [Etnyre] as Chief Executive Officer results from his substantial experience and demonstrated record of driving growth as well as operational excellence across all elements of international procedures for market leading business."

Hunkler joins FTC from Western Digital Corporation, an US hard disk maker as well as data storage space firm. As executive vice president of global procedures he led greater than 62,000 individuals across a network including 18 manufacturing facilities. Before this, he worked in the semiconductor and solar sectors, consisting of working as EVP of Global Operations for NXP Semiconductors, and then primary running police officer of its spin-off firm, Nexperia.

Hunkler, who additionally held an elderly VP function at SunEdison, claimed he was honoured to be chosen as the firm's brand-new Chief Executive Officer and also admired the firm's "separated products and services that are plainly reverberating in the market and also supplying exceptional value for its consumers."

Etnyre, that has belonged to the FTC group since its beginning in 2017 and also has worked as CEO given that March 2019, stated: "I've understood Sean for several years and have actually dealt with him on several occasions. As I pass the FTC Solar Chief Executive Officer baton to him, I recognize he will be a wonderful suitable for the firm and also will take FTC Solar to brand-new degrees of achievement."

In August, the company said it was relying on alternative delivery approaches and also cost-cutting initiatives in a bid to return business to productivity in Q4 after inadequate economic performance in the previous quarters. This complied with an IPO on the NASDAQ in which FTC Solar reduced the prices of its preliminary shares.