UPDATE 1-Solar panel maker Maxeon says George Guo to succeed Mulligan as CEO

Reuters10-16

(Adds details from paragraph 2 onwards)

Oct 16 (Reuters) - Renewable energy company Maxeon Solar Technologies said on Wednesday its chief executive officer Bill Mulligan will retire at the end of January next year, after nearly two years in the role, and will be succeeded by George Guo.

Guo, former CEO of TCL Communication, has assumed the role at Maxeon and joined its board effective Oct. 11. Mulligan would aid the leadership transition through January, the company said.

The move comes days after Maxeon said it would be unable to provide financial outlook for the third quarter and withdrew its annual revenue and adjusted core profit forecasts.

The solar panel maker has been grappling with challenges such as dwindling market demand, project delays, order cancellations and an unpredictable policy environment.

Its shares, which have fallen nearly 100% since the start of the year, were down more than 3% in early trading.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Shilpi Majumdar)

((Srivastava.Vallari@thomsonreuters.com;))

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