Akeena Solar’s share price and workforce got about 25 percent smaller Thursday after the Los Gatos solar power systems supplier and installer released results for its 2008 fourth quarter that missed analysts’ expectations.
While the company’s revenue came in as expected at $10.9 million, it posted a loss Read the rest of this entry »
Akeena Solar announced yesterday the resignation from its board of director George Lauro, who joined it less than 14 months ago and who was named as a director up for re-election in the company’s proxy filed last week.
Lauro “indicated that he wishes to focus his efforts on his other portfolio companies,” according to an SEC Akeena filed Wednesday. The resignation, which was effective immediately, leaves the company with only two independent directors on its board, a violation of Nasdaq’s listing requirement.
An electrical engineering graduate of Brown University, Lauro also has an M.B.A. from Wharton and has done graduate work in “Astronautics” from MIT. He also serves as a on the boards of ChipX and Pinyon Technologies.
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