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GT Solar International, Inc. (NASDAQ: SOLR), a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets, today announced the appointment of Mary Petrovich and Robert E. Switz to its board of directors. Ms. Petrovich and Mr. Switz have been appointed to serve until the 2011 Annual Meeting of Stockholders at which time they will stand for election.
The appointments fill the vacancies resulting from the resignations in November 2010 of Bradforth Forth and R. Chad Van Sweden, both with the GFI Energy Group of Oaktree Capital Management, L.P., previously a private equity investor in GT Solar.
The company also announced that Fusen E. Chen, a member of the board, notified the company of his decision not to stand for re-election following the completion of his current term which will end on the date of the company’s annual shareholders meeting scheduled for August 24, 2011.
“We are grateful for the outstanding service and contributions of Fusen Chen as a GT board member over the last three years,” said Matt Massengill, chairman of the board. “Fusen provided invaluable insight as we developed the technology strategy and roadmap that are being successfully deployed today.
“We are delighted with the additions of Mary Petrovich and Bob Switz to the GT Solar board," continued Massengill. "Both individuals are accomplished former CEOs of public companies who have created shareholder value and demonstrated excellent operational and leadership skills. In addition, they are both experienced directors on the boards of other public companies. The GT board will benefit from their insights and experience.”
Ms. Petrovich has served as general manager of AxleTech International LLC, a supplier of off-highway and specialty vehicle drive train systems and components, since its acquisition by General Dynamics in December 2008. She served as chairman and chief executive officer of AxleTech International from 2001 through the December 2008 sale of the company. Ms. Petrovich is also a director of Woodward, Inc and Modine Manufacturing Company.