Ascent Solar Technologies Gets Interim CEO

US CIGS Company Terminates President & CEO Jeffrey Max; Puts CFO Paul Warley In Charge
Following Jeffrey Max’s (l) termination, Ascent has appointed Paul Warley (r) as the interim CEO. (Photo Credit: Jeffrey Max, Paul Warley/LinkedIn)
Following Jeffrey Max’s (l) termination, Ascent has appointed Paul Warley (r) as the interim CEO. (Photo Credit: Jeffrey Max, Paul Warley/LinkedIn)
  • Ascent Solar has announced the termination of its President and CEO Jeffrey Max
  • His termination, for which no reason has been given, became effective on April 26, 2023
  • He is succeeded by Paul Warley as interim CEO who will continue to hold the CFO position

Barely 7 months after his appointment as the President and CEO of flexible, CIGS thin-film solar PV technology company Ascent Solar Technologies, Jeffrey Max's services have been terminated by the board while CFO Paul Warley has been made the interim CEO.

The company has not cited any reason for Max's termination. Max joined Ascent in September 2022, succeeding Victor Lee who agreed to resign from the board as part of the company's leadership transition. His termination was effective April 26, 2023.

Warley will continue as the company's CFO. He joined Ascent in December 2022 after having worked for nearly 4 decades working in financial industry, specializing in corporate turnarounds, restructuring, capital advisory mandates at various investment and financial services firms. He also runs his own strategic advisory firm Warley & Company.

Ascent is currently expanding its geographic footprint to Europe with the acquisition of Switzerland's Flisom and its 15 MW fab (see Ascent Solar Acquires Europe's Flisom).

Warley stated, "Following the acquisition of Flisom's assets and the repurposing of the Thornton plant as a Perovskite Center of Excellence, we are confident the Company has a strong foundation and is well positioned for growth."

He added, "We are now capable of meeting market demand in Europe, Asia and North America, while simultaneously advancing R&D efforts of Perovskite – long considered a promising material for next generation solar materials."

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