Mike Ahearn Transitions from Executive Chairman to Chairman of the Board of First Solar

First Solar, Inc. announced that Mike Ahearn will transition from executive chairman to chairman of the Board of Directors effective Jan. 1, 2011, a natural evolution of the leadership succession announced in 2009 when Rob Gillette was appointed CEO.

“First Solar is in good hands under Rob’s leadership and well-positioned for its next wave of growth,” said Ahearn.

“We thank Mike for his unwavering dedication to First Solar and look forward to continuing to work with him,” said Gillette. “Mike has been steadfast in his commitment to First Solar’s success and a champion of our mission.”

In addition, James Zhu, the company’s chief accounting officer, has been appointed interim chief financial officer effective Jan. 1, 2011. Zhu succeeds Jens Meyerhoff and will oversee First Solar’s financial operations until a new CFO is named. As announced in July, Meyerhoff is fully transitioned from his role as CFO to president of First Solar’s Utility Systems business, which provides complete large-scale photovoltaic (PV) system solutions for utility customers.

“We are confident James will transition seamlessly into this new role given his deep experience and knowledge of our financials and financial systems,” said Gillette. “This also frees Jens to be fully dedicated to running our Global Utility Systems business and managing our 2.2 GW captive project pipeline, which will be key drivers of our future growth.”

Zhu joined First Solar in 2007 as vice president and corporate controller and has been chief accounting officer since 2009. Prior to joining First Solar, Zhu held positions in accounting and controlling at Salesforce.com, Chiron Corporation and KPMG, LLP. He is a CPA and earned a B.A. in economics in China and an M.B.A. in accounting from Golden Gate University.