REC Silicon's shareholders approve all three board nominees

The shareholders of Norway-based polysilicon and silicon gas producer REC Silicon ASA (OSE:RECSI) have approved the election as members of the board of all three previously proposed names, the company announced after the extraordinary general meeting held today.

As a result, Tae Won Jun has been appointed as chair and Dong Kwan Kim as deputy chair, while Vivian Bertseka takes the third seat on the board of directors. As expected, Renate Oberhoffer-Fritz keeps her spot.

This selection has been a matter of controversy since earlier in October, when one of REC Silicon’s substantial shareholders, namely Lodbrok Capital LLP, stressed it is against the idea of South Korean conglomerate Hanwha Group having its representatives occupy two out of four seats on the board.

Lodbrok’s opposition stems from the fact that Hanwha, being just a one-third shareholder, is currently discussing a contract for the vast majority of REC Silicon’s production.

As previously reported, the Norwegian company and its production facilities are a crucial part of Hanwha’s plan to rebuild the full solar supply chain in the US.

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