Daqo New Energy CEO Gongda Yao Resigns With Immediate Effect - Quick Facts

(RTTNews) - Daqo New Energy Corp. (DQ), a Chinese manufacturer of high-purity polysilicon for the global solar PV industry, announced Monday the departure of its chief executive officer Gongda Yao with immediate effect due to personal reasons.

Yao remains to serve as a non-executive board member until March 31, 2018

The Board of Directors has started a search for a successor for the position of chief executive officer of the company. The Chairman of the Board of Directors and founder, Guangfu Xu, will act as executive Chairman and acting chief executive officer in the interim period.

Gongda Yao, who is leaving after nine years' service, said, "Now as the Company has been performing very well both operationally and financially, I think it's time for me to step down from my position and spend more time with my family and pursue personal interests."