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First Solar's net income soars 253% in Q1 – seeks new CEO

First Solar reports first quarter (Q1) net income of US$164.6 million, soaring 253% from the same period in 2008. At the same time, the solar company has initiated the search for a new chief executive officer.

The jump in net income came as First Solar’s revenues more than doubled (112%) to US$418.2m.

First Solar also initiated a process at the end of April to recruit its next CEO to succeed Michael Ahearn.

Ahearn will continue to serve in the full-time position of executive chairman once a new CEO has been appointed.

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Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity