REC Solar ASA (REC) announces that the Board of Director has, following a comprehensive selection process, appointed Steve O'Neil as the new Chief Executive Officer. Steve will assume his position effective March 25, 2015. Martin Cooper, who has been interim CEO for REC Solar ASA since July 2014 while the search for a permanent CEO was in progress, will resume his Chief Financial Officer position.

Steve O'Neil has 28 years of working experience in multi-diverse industries across different countries. His most recent position was Chief Executive Officer of Tyden Group and has spent 20 years with TE Connectivity (formerly Tyco Electronics). He served as Senior Vice President of the Consumer Devices business unit, where he was responsible for all aspects of sales, development and operations worldwide.

Steve O'Neil was based in Shanghai, China from 2006 to 2011, when he was appointed as Senior Vice President, China, and Chairman of the TE Connectivity China Business Council. Prior to this, he was based in Munich, Germany, where he served as Vice President of the Energy business unit, which manufactures products and systems for the electrical power industry globally. Before joining TE Connectivity, Steve began his career in product development, product management and operations at Procter & Gamble, Microsoft and Raychem Corporation (acquired by Tyco International in 1999).

Steve holds a bachelor's degree in Chemical Engineering from Montana State University and a Master of Business Administration from the Stanford Graduate School of Business, California, U.S.

Ole Enger, Chairman of the Board, said: "Steve is well qualified to develop the Company going forward as we focus on expanding our market reach and positioning ourselves for continued profitable growth. On behalf of the Board and employees of REC, I would like to thank Martin Cooper for his strong contributions as the interim CEO."