9 June 2011

GT Solar appoints new board members

GT Solar International Inc of Merrimack, NH, USA (a provider of polysilicon production technology as well as sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets) has appointed Mary Petrovich and Robert E. Switz to its board of directors, serving until the 2011 Annual Meeting of Stockholders on 24 August (when they will stand for election).

“Both individuals are accomplished former CEOs of public companies who have created shareholder value and demonstrated excellent operational and leadership skills,” comments chairman Matt Massengill. “In addition, they are both experienced directors on the boards of other public companies,” he adds. “The GT board will benefit from their insights and experience.”

Petrovich was chairman & CEO of AxleTech International LLC (a supplier of off-highway and specialty vehicle drive train systems and components) from 2001 through the December 2008, then general manager after its acquisition by General Dynamics in December 2008. She is also a director of Woodward Inc and Modine Manufacturing Company.

Switz was a director, president & CEO (from 2003 to 2010) and chairman (from 2008 to 2010) of network infrastructure product and services provider ADC Telecommunications Inc (acquired by Tyco International). He is also a director of Broadcom Corp and Micron Technology Inc.

The appointments fill the vacancies resulting from the resignations last November of Bradforth Forth and R. Chad Van Sweden, both with the GFI Energy Group of Oaktree Capital Management LP (previously a private equity investor in GT Solar).

Also, board member Fusen E. Chen has notified the firm of his decision not to stand for re-election following completion of his current three-year term on 24 August. “Fusen provided invaluable insight as we developed the technology strategy and roadmap that are being successfully deployed today,” says Massengill.

See related items:

GT Solar’s full-year income doubles as revenue grows 65%

Tags: GT Solar Crystal Systems Sapphire crystallization furnaces

Visit: www.gtsolar.com