REC Silicon’s Tore Torvund Stepping Down

Norwegian Polysilicon Maker REC Silicon Announces CEO Change

REC Silicon’s Tore Torvund Stepping Down

Soon after Hanwha Solutions acquired a 16.67% stake in REC Silicon, the latter has announced a CEO transition with Tore Torvund to be replaced on interim basis by James A. May II. (Photo Credit: REC Silicon ASA)

  • REC Silicon CEO Tore Torvund is stepping down, the management announced
  • He will be replaced for the time being by the company’s CFO James A. May II
  • The company board is looking to finalize a new CEO in the meanwhile

REC Silicon ASA, the Norwegian polysilicon supplier with manufacturing plants in the US, has announced its long-term CEO Tore Torvund is stepping down from his position after leading the company for over a decade.

The company’s board has agreed to Torvund decision to leave the company he led for 12 years as he now turns 70 years old. His position will be filled up by the company’s current CFO James A. May II who will act as the interim CEO. Douglas Moore, the company’s current corporate controller, will act as the CFO.

Meanwhile, the board will find and appoint a new CEO to lead the Norwegian company.

The news follows South Korea’s Hanwha Solutions acquiring 16.67 % stake in the company from Aker Horizons in November 2021 (see Hanwha Picks Up Stake In REC Silicon).

Notably, Hanwha Solutions wants representation on REC Silicon’s board that’s expected to be led by Kristian Monsen Røkke after Aker Horizon’s recommendation. Current Chairman of the company board Kjell Inge Røkke is planning to step down, stated REC Silicon.

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Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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