Solyndra Names New President, CEO

By Silicon Valley / San Jose Business Journal

Solyndra Inc. on Tuesday named Brian Harrison president and CEO.

Fremont-based Solyndra, which makes cylindrical solar photovoltaic systems for commercial rooftops, said its founder and current Chris Gronet, will continue to serve the company in an executive capacity and as chairman of the board.

Since 2008, Harrison has been president and CEO of Numonyx B.V., a flash memory company.

Prior to Numonyx, Harrison was vice president and general manager of the Flash Memory Group of Intel Corp.

⿿A demonstrated leader of Brian⿿s caliber is an excellent addition to Solyndra⿿s existing management team,⿝ said Gronet. ⿿Brian⿿s strong understanding of sophisticated manufacturing operations, history of achieving significant product and manufacturing cost reductions, and experience in building an international sales and marketing organization make him the right person to lead our growth.⿝

Solyndra said its sales have doubled each year for the past two years and are expected to climb to more than $400 million in 2011. The new Fab 2 facility in Fremont is expected to go into production ahead of schedule this fall and will more than triple the companyâ¿¿s current output in the next year.

In June the company raised $175 million in a private placement from existing investors and pulled its plans for a $300 million initial public offering.

Also in June, J. Kelly Truman, a founding team member and senior vice president at Solyndra, left the company to be head of cleantech company Deeya Energy Inc.

Copyright 2010 American City Business Journals

http://sanjose.bizjournals.com/sanjose/stories/2010/07/26/daily31.html?ana=thestreet

Copyright bizjournals.com 2010

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