No
explanation
was
given
for
the
resignation
of
chairman
Jens
Ulltveit-Moe,
who
is
a
well-known
Norwegian
investor
and
chief
executive
of
the
investment
group
Umoe.
Mimi
Berdal,
a
member
of
the
board
since
2011,
will
immediately
take
his
place
atop
the
board
of
directors.
REC’s
full-year
net
loss
is
substantially
deeper
than
the
NKr4.3bn
deficit
it
reported
for
2011.
Total
annual
revenues
fell
25%
to
NKr7.14bn
as
the
average
selling
price
of
both
polysilicon
and
modules
–
REC’s
two
core
businesses
–
plunged
nearly
40%
during
2012.
Shares
of
the
Oslo-based
company
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