New reshuffle at Suntech as interim CFO steps aside

Suntech, the world’s largest maker of solar panels, says its interim chief financial officer (CFO) Anlin Ting-Mason has stepped down from her position “for personal reasons”.

Chief executive David King will take over the CFO duties while the company seeks a permanent replacement, Suntech said in a stock exchange filing.

King was Suntech’s CFO prior to becoming chief executive in August.

The Chinese company is struggling to shore up its balance sheet amid a growing shortage of cash after the plunge in panel prices eroded its margins.

Earlier this week it said it had hired UBS to “evaluate alternatives” for the $541m in convertible notes due in March 2013.

It also said it wants to reduce its debt, now at $2.3bn,…

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