In a major reshuffle announcement by Chinese solar module manufacturer JinkoSolar Holding Co., Ltd., almost all of its senior management has resigned with immediate effect. In place of Kangping Chen, the company's Chairman Xiande Li has been appointed as its CEO, effective immediately.
Among other senior executives who have resigned are the Chief Marketing Officer Gener Miao, Chief Operating Officer Dr. Jiun-Hua Allen Guo, Chief HRO Shaoguo Ji and CTO Dr. Hao Jin.
But nothing to worry about, according to JinkoSolar, which said the changes have been made in order to comply with certain business operations and independence requirements of the Shanghai Stock Exchange Science and Technology Innovation Board, more popularly known as the STAR Market where it plans to list its principal operating subsidiary Jiangxi Jinko.
All the executives named above will carry out their respective responsibilities at Jiangxi Jinko. The changes, it added, would not have any material impact on its business operations.
In September 2020, US publicly listed JinkoSolar said it wants to list its principal operating subsidiary Jiangxi Jinko on the STAR Market to raise capital for continuous expansion of the company (see JinkoSolar Seeking Chinese Listing On STAR Market).
In October 2020, JinkoSolar said the subsidiary had completed RMB 3.1 billion ($458 million) equity financing to qualify itself for the listing.