ST. PETERS, Mo., April 23, 2012 /PRNewswire/ -- MEMC Electronic Materials, Inc. (NYSE: WFR) today issued a statement to correct misinformation which has come to the company's attention.
"We have been made aware of rumors relating to the company which may be causing concern," said John Marren, Chairman of the MEMC Board of Directors, "and we wish to make it absolutely clear that Ahmad Chatila remains our CEO. The MEMC Board has been actively engaged in the ongoing review of the company's performance and has taken appropriate action when necessary or desirable," Marren continued. "The restructuring led by Ahmad and management announced in December 2011 is reflective of this engagement, but the announced restructuring was not the end of our work. Our markets remain challenging and so our efforts to improve performance and drive shareholder value continue unabated. We are committed to working with Ahmad and management to drive results," concluded Marren.
MEMC is a global leader in semiconductor and solar technology. MEMC has been a pioneer in the design and development of silicon wafer technologies for over 50 years. With R&D and manufacturing facilities in the U.S., Europe, and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. Through its SunEdison subsidiary, MEMC is also a developer of solar power projects and a worldwide leader in solar energy services. MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR" and is included in the S&P 500 Index. For more information about MEMC, please visit www.memc.com.
SOURCE MEMC Electronic Materials, Inc.