Canadian Solar Inc. (NASDAQ: CSIQ) announced that Ismael Guerrero is stepping down as Chief Executive Officer of Recurrent Energy, the company's global project development subsidiary, and will be replaced by Dylan Marx, effective immediately.

Marx previously served as Chief Operating Officer of Canadian Solar and will step down from that role to focus on leading Recurrent Energy. Guerrero will remain with the company in a non-executive advisory capacity through Dec. 31, 2026, to support the transition.

Canadian Solar CEO Colin Parkin attributed the appointment to Marx's operational background and familiarity with Recurrent Energy's business. "Dylan's deep knowledge of Recurrent Energy's business, global perspective, and proven track record in operational oversight make him the right leader to guide Recurrent into its next phase," Parkin said in a statement.

Canadian Solar is headquartered in Kitchener, Ontario, and has been listed on the Nasdaq since 2006.