Suntech appoints two new board members chosen by 3% convertible holders

By Caroline Salls

Pittsburgh, July 30 - Suntech Power Holdings Co., Ltd. appointed Michael Nacson and Kurt Metzger to its board of directors, bringing the total number of board members to nine, according to a company news release.

The two new board members were nominated by the holders of the company's 3% convertible notes as a condition of a forbearance agreement announced on June 28.

Nacson is currently a principal at CSL, a corporate transactions advisory company and outsourced chief financial officer provider.

Metzger is currently a principal at GEM Advisory, a management consulting company.

He holds a BA in economics with a concentration in alternative energy from Brown University.

"Nacson and Metzger come with credentialed experience in restructuring and, in my view, will help benefit Suntech in the coming months," chairman Susan Wang said in the release.

Suntech is a Wuxi, China-based solar panel producer.

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