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DayStar Technologies CEO Quits As Company Plans To Cut 30% Of Workforce

c-level_225px-w_bwMay 14, 2009 (FinancialWire) — DayStar Technologies, Inc. (NASDAQ: DSTI) (Current Market Cap: US$30.47 Mil.), a developer of solar photovoltaic products said that Stephan J. DeLuca has resigned from his roles as chief executive officer and director of DayStar effective May 12 at the request of the company’s board. DayStar also said it plans to implement a reduction of around 30 percent of its workforce.

The company has appointed Robert G. Aldrich, DayStar’s current chairman, to the additional position of CEO, effective May 12. Aldrich was appointed DayStar’s chairman in September 2008. He joined DayStar as a director in October 2003. He served from 1992 to 1995 as group vice president at the Electric Power Research Institute. From 1990 to 1992, he was a director of Ramtron, a company developing non-volatile memory chips.

DayStar said that the workforce reduction is scheduled to be completed in the second quarter.

Santa Clara, California-based DayStar Technologies is engaged in the development, manufacturing and marketing of solar photovoltaic products based upon CIGS thin film deposition technology.

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