No reason was given for the departure of the 64-year-old Hong. The company says a replacement will be announced within two weeks.

Hong, long a senior figure within the Hanwha Group, including a stint as chief executive of Hanwha Chemical Corporation, was initially made SolarOne’s chairman after Hanwha's buy-in.

However, in 2011 he was elevated to the role of chief executive, replacing Peter Xie.