MEMC named Brian Wuebbels as its new CFO. Wuebbels has been with MEMC in various roles since 2007. His previous experience came at Honeywell International Inc. (NYSE: HON) and General Electric Co. (NYSE: GE).
Investors are treating the switch as yet another signal that MEMC is a sinking ship. Shares are off more than -18%, at $1.74 after posting a new 52-week low of $1.67 earlier. The previous range was $2.07-$10.64. After the announcement last night shares only fell by a penny. That situation changed fast this morning.
Paul Ausick
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