Maxeon Solar Technologies Announces the Appointment of a New Independent Director

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar innovation and channels, announced the appointment of David H. Li to its Board of Directors, effective September 15, 2023.

"It's a privilege to welcome David to Maxeon's Board. His valuable experience serving as a board director, his successful tenure as CEO of CMC Materials Inc., one of the world's largest semiconductor materials companies, and his three decades of experience managing teams around the world, will be beneficial as Maxeon moves forward with its ambitious growth plans. I look forward to working closely with David to continue to ensure the company delivers a positive impact for our stakeholders, including our customers, our employees, our shareholders, and the planet," said Bill Mulligan, Chief Executive Officer of Maxeon Solar Technologies.

David Li has over 25 years of experience in the semiconductor industry. From 2015 to 2022 he was Chief Executive Officer, President, and a Board Member of CMC Materials, a leading global supplier of specialty materials focused on the semiconductor and energy industries with over $1 billion USD in revenues. During his tenure, he drove record financial performance and shareholder return. The company was ultimately acquired by Entegris for approximately $6 billion USD in 2021. Previously, Mr. Li served as Vice President Asia Pacific Region, and also held various leadership positions at CMC Materials. Mr. Li also sits on the Board of Coorstek, a company which specializes in the manufacture of high-performance ceramics for advanced applications. David Li is a fluent Mandarin Chinese speaker.

Don Colvin, chairman of Maxeon's Board, said, "We are delighted to welcome David to Maxeon at this important time for the company. He is an accomplished and experienced executive whose proven track record as CEO of a Nasdaq-listed company and in the semi-conductor industry will complement the Board's existing set of experience and skills. His addition will be a great asset to Maxeon as the company continues to execute on its global growth strategy focused on enhancing value for all its shareholders."

"Maxeon is in a unique position to accelerate innovation in solar photovoltaic technology," said Mr. Li. "It's a privilege to contribute leadership and business guidance to a company whose purpose of Powering Positive Change aligns so much with my own outlook. I look forward to supporting Maxeon's ongoing growth and success as a global solar leader."

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