• ReneSola had offered Cindy Chen to take over from Maggie Ma as the company’s CFO
  • But Chen withdrew her acceptance of the offer due to health reasons
  • One of the independent directors of ReneSola, Weiguo Zhou will now be the interim CFO

Chinese solar power project developer ReneSola Ltd., has had to alter its chief financial officer (CFO) change plans at the last minute. Maggie Ma was to be succeeded by Cindy Chen as the CFO effective March 1, 2018, as announced by the management recently (see Renesola Hires New CFO). But Chen withdrew her acceptance of the role owing to health reason.

Instead, Weiguo Zhou has been appointed as the interim CFO, effective immediately. Zhou is already one of the independent directors and a member of the compensation committee and nominating and corporate governance committee at ReneSola. During the period Zhou will be the interim CFO, he will step down as an independent director. He will continue to remain a director of the board of directors and a member of the compensation, nominating and corporate governance committees.

A long term investment banker, Zhou has been with ReneSola as an independent director since March 2016. Previously, he worked with Goldman Sachs, Credit Suisse and Deutsche Bank among others. His expertise is in capital markets and the solar industry.

The management will continue to search for a permanent CFO.