Suntech founder Shi to fight 'unlawful' ousting

Shi Zhengrong has vowed to fight for his place as chairman

Suntech founder and former chief executive Shi Zhengrong says his removal as executive chairman by the company’s board of directors is “invalid”, while vowing to remain at the head of the firm.

The Chinese company, the world’s largest solar panel maker during 2011, said earlier this week that it had replaced Shi with Susan Wang, already a company director.

Shi, who had stepped down as chief executive in August last year, would remain a director at Suntech, according to the company.

However, Shi said in a statement yesterday that the board’s decision was “misconceived and unlawful” and that it had “no legal basis” and “no effect”.

He added that the board was “not acting in accordance with the best interest of the company”.

“I am…

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