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Gold/Mining/Energy : First Solar, Nasdaq: FSLR
FSLR 266.94+14.3%Oct 31 9:30 AM EST
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From: David C. Burns2/23/2012 10:59:58 PM
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First Solar-to-Vestas Wind Profit Crash Deters New CEOs: Energy

Renewable-energy companies are losing their allure with top executives after profits and stock prices collapsed across the industry, making it more difficult for boards to replace underperforming managers.

First Solar Inc., the biggest U.S. solar company, ousted its chief executive officer in October and is still seeking a replacement. At Vestas Wind Systems A/S, the largest turbine maker, the chairman and finance director are leaving after the company cut sales forecasts twice in three months and CEO Ditlev Engel said his own job is safe.

“It’s becoming significantly more difficult to attract people into this market,” said Shelly Fust, who leads clean technology recruiting in Los Angeles at Korn/Ferry International, the world’s largest executive search firm. “In my 15 years, this is probably the most difficult time to recruit.”

businessweek.com
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