Ascent Solar (ASTI) President/CEO to Resign
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Ascent Solar Technologies, Inc. (NASDAQ: ASTI) today announced that the Board and its President and CEO have mutually decided that a change of leadership presents the best path forward for the company, as it heads into the manufacturing phase of its development.
Effective September 19, 2008, Matthew Foster, its President and CEO, has resigned his position. Dr. Mohan Misra, Ascent Solar's Chairman and Chief Strategy Officer, will serve as the company's interim President and CEO until a permanent replacement is found. Ascent Solar intends to initiate a search immediately, and Mr. Foster will continue in a consultant capacity focusing on global expansion and business development for a period of one year.
Ascent Solar Technologies, Inc., a development stage company, engages in the commercialization of certain photovoltaic (PV) technology developed by ITN Energy Systems, Inc. for space satellite, near-space, and terrestrial markets.
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