China Sunergy (CSUN) CFO Resigns For Personal Reasons

China Sunergy (CSUN) announced after the bell today that its CFO Siegfried Yi Chou Hsu had resigned for personal reasons on Sunday and  that a replacement is being pursued.  In the meantime, Yongfei Chen will act as interim CFO while the CEO will oversee investor relations programs.  Chen joined China Sunergy today, coming over from China Electric Equipment Group where he was the general manager of finance.

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“Mr. Hsu has made significant contributions to China Sunergy’s financial management and investor relations. We are grateful to Mr. Hsu for his service to the Company and wish him well in his future endeavors,” said Mr. Cai. “The search for a new chief financial officer is underway. As we continue this search, I have full confidence in the ability of Mr. Yongfei Chen and the rest of our management team to continue to ensure our financial management progresses smoothly.”

Shares of CSUN are holding up after hours, but we’ll have to see how this news impacts shares tomorrow.   Often times an abrupt CFO departure can spook investors and send the stock down at least in the short term. 

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