Arise Technologies CEO Bart Tichelman has resigned after spending less then one year on the job. His resignation was filed late Tuesday, it’s believed that he submitted his resignation due to divergent views between Arise and himself over the company’s future direction. Tichelman has also left his board of directors position which he held for nearly nine years. The chair of the company’s board Vern Heinrichs will become the interim CEO until a replacement is found.
The company’s stock price has been hit hard in the past year and shares fell seven cents after the news, the shares closed at forty cents. Despite its stock performance the company is believed to have already booked one year worth of orders for their plant in Germany. Arise has plans to expand their PV manufacturing plant with a second production line in the works. The company is also expanding its research efforts in Kitchener with a pilot silicon refinery expected to become operational in May or June of this year.