Daqo New Energy: CEO Longgen Zhang, Chairman Guangfu Xu Resign; Xiang Xu Named Successor

(RTTNews) - Daqo New Energy Corp. (DQ), a manufacturer of high-purity polysilicon for solar PV industry, announced Thursday that Longgen Zhang will step down as Chief Executive Officer and a director with immediate effect due to personal reasons.

Further, the company's founder Guangfu Xu will step down from his position as Chairman of the Board of Directors with immediate effect. He will remain as a director on the Board.

The company announced the appointment of Xiang Xu as Chairman of the Board and Chief Executive Officer, effective immediately. He has been serving as a Director since its initial public offering and as Vice Chairman of the Board since June 2022.

In pre-market activity on the NYSE, Daqo New Energy shares were losing around 2.6 percent to trade at $35.10.