Struggling solar parts manufacturer STR Holdings of Enfield will lose some European and sustainability expertise when a member of its board of directors steps down following the annual meeting.
Uwe Krueger, who joined STR’s board in August 2010, decided not to seek re-election at the company’s annual meeting. His departure is not over a disagreement with the company or any of its practices, according to an STR filing with the U.S. Securities and Exchange Commission.
Krueger is the former CEO of the Oerlikon Group, a $4 billion company that includes a solar division, and former president of Cleantech Switzerland, a Swiss export platform that provides sustainability support to companies on behalf of the Swiss government. He is now CEO of London-based Atkins, an engineering, design and project-management consultancies.
STR has been struggling since January when it announced its top customer, Arizona photovoltaic panel maker First Solar, would be leaving the company sometime in the first quarter. Since the announcement, the company plans to close its new 275,000-square-foot East Windsor facility, lay off 160 employees, and take up to $20 million in separation charges.
CORRECTION: A previous version of this story incorrectly stated Uwe Krueger’s current position.
