CHANGCHUN, China, January. 7, 2019 /PVTIME/ -- Canadian Solar Inc.
("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of
the world's largest solar power companies, today announced that it has
increased the size of its Board of Directors from five to six directors and
appointed Lauren C. Templeton as an independent
director, thereby increasing the number of independent directors to
five. The Company also announced that it has appointed Karl E. Olsoni as a
strategic advisor to its Board of Directors. Both appointments are effective January 1, 2020. The appointments follow a search process
conducted as part of Canadian Solar's ongoing focus on shareholder value
creation and Board composition and diversity.
Ms. Templeton is the founder and President of Templeton
& Phillips Capital Management, LLC, a global investing boutique located in Chattanooga, Tennessee. She is also an
independent director and member of the Audit Committee of Fairfax Financial
Holdings Limited, a financial holding company engaged in property and casualty
insurance and reinsurance and associated investment management, and its
publicly-traded subsidiary, Fairfax India Holdings Corporation.
Ms. Templeton serves on a number of non-profit
organizations, including the John Templeton Foundation, the Templeton World
Charities Foundation and the Templeton Religion Trust. She also serves on the
Board of Trustees at the Baylor School, the Board of Trustees at the Bright
School and the Board of Overseers at the Atlas Economic
Research Foundation. Ms. Templeton is the former President of the Southeastern
Hedge Fund Association, based in Atlanta, Georgia.
She is also the co-author of "Investing the Templeton Way: The Market
Beating Strategies of Value Investing's Legendary Bargain Hunter", which
has been translated into nine languages. Ms. Templeton holds a Bachelor of
Arts Degree in Economics from the University of the South,
Mr. Olsoni is currently an Operating Partner with Quinbrook
Infrastructure Partners, an infrastructure fund manager investing in clean
energy infrastructure in the United States, the United Kingdom and Australia.
He is also a Partner with the kRoad group of companies which invest in battery
storage, waste transformation and e-mobility. He previously served as Managing
Director of the Clean Energy and Infrastructure team at Capital Dynamics where
he and his partners raised and invested approximately $1
billion in clean energy infrastructure projects in the United States, the United
Kingdom and Australia.
Mr. Olsoni has more than 30 years of international energy
sector experience. He was formerly Chief Financial Officer and Senior Vice
President of PPM Energy Inc. (now Iberdrola Renewables/Avangrid), a US-based
energy company, and Chief Financial Officer of Koch Materials, Inc., a unit of
the Koch Industries, Inc., which marketed heavy petroleum products in the United States, China,
Mexico and Brazil.
Before that, he spent 16 years with the Southern Company where, among other
things, he was part of the original management team that built the Southern
Company's independent power and merchant energy business (Southern Energy,
Inc., later Mirant, Inc.) into one of the largest independent power producers
in the world. Mr. Olsoni holds a Bachelor of Arts degree in Economics from George Washington University and an MBA from the College of William and Mary.
Dr. Shawn Qu, Chairman,
President and Chief Executive Officer of Canadian Solar, said: "We are
very pleased to welcome Lauren as an independent director and Karl as a
strategic advisor to our Board of Directors. Both bring significant experience
and outstanding track records of value creation and will provide fresh
perspectives to our Board deliberations as we consider a broad range of
value-enhancing strategic alternatives for our Modules and Systems Solutions
and Energy businesses. We are enthusiastic about Canadian Solar's growth
potential, underpinned by strong Company fundamentals and industry growth
prospects. We look forward to Lauren and Karl's input as we take actions,
including our recently announced buyback program, to create sustainable value
for our shareholders."