Pursuant to the disposal of its manufacturing and services (M&S) business, Sunpower Group has announced the departure of select employees, including its CFO and Chief Investment Officer.

Sunpower is divesting its subsidiary Sunpower Technology (Jiangsu) Co to Nanjing Sunpower Holdings Co, a special purpose vehicle held by a consortium of China funds, the group’s two largest shareholders, Guo Hong Xin and Ma Ming, as well as certain employees of the M&S segment.

SEE:Broker's Digest: SIA, Sheng Siong, Sunpower, AusGroup, Jiutian Chemical Group

CFO Ge Cui Ping, Chief Investment Officer Chen Kai, Senior Vice President Jiang Yanyun, along with five other general managers who have been primarily involved in the M&S business will be joining Nanjing Sunpower.

To that end, the group has announced the promotion of Wang Hui as CFO effective April 30.

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Wang, 32, has served as a senior financial analysis manager for the group since 2016.

As at 9.23am, share in Sunpower are down 1 cent or 1.08% lower at 92 cents.