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Posted 02 May, 2023

Ascent Solar Technologies, Inc. appointed Paul Warley as new CEO

Nasdaq:ASTI appointed new Chief Executive Officer Paul Warley in a 8-K filed on 02 May, 2023.


  On May 1, 2023, the Company's board of directors appointed Paul Warley as the Company's President and Chief Executive Officer.  

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Overview of Ascent Solar Technologies, Inc.
Industrial Goods • Industrial Electronics
Ascent Solar Technologies, Inc. engages in the design, development, and manufacture of solar technology and power solutions for remote locations and extreme environments. It integrates photovoltaic (PV) modules into a variety of applications such as aerospace, defense, transportation, and electronic products. The company was founded by Mohan S. Misra and Joseph H. Armstrong on October 18, 2005 and is headquartered in Thornton, CO.
Market Cap
$1.46M
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Ascent Solar Technologies, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officer; Compensatory Arrangements of Certain Officers.

Item 5.02 (b) Departure of Chief Executive Officer. 


On April 26, 2023, the board of directors of Ascent Solar Technologies, Inc. ("ASTI" or the "Company") terminated Jeffrey Max as the Company's President and Chief Executive Officer.

Item 5.02 (c) Appointment of New Chief Executive Officer. 


On May 1, 2023, the Company's board of directors appointed Paul Warley as the Company's President and Chief Executive Officer. Mr. Warley will remain in his current role as the Company's Chief Financial Officer on an interim basis until his replacement is appointed by the Company's board.


Mr. Warley joined the Company in December 2022 as Chief Financial Officer. Mr. Warley does not serve as a member of the Company's board of directors.


Mr. Warley, age 61, has significant experience in corporate turnarounds, restructuring, cross-border trade and capital advisory work. From 2015 to 2022, Mr. Warley was president of Warley & Company LLC, a strategic advisory firm providing executive management, capital advisory and M&A services to middle-market companies in the service, construction, technology, oil & gas, clean energy, food, retail and green-building sectors. While at Warley & Company, from 2018 to 2019 Mr. Warley was engaged as Chief Executive Officer and CFO of 360Imaging, a provider of products and services for implant surgery and digital dentistry. From 2011 to 2015, Mr. Warley served clients in the alternative energy industry as a managing director and additionally was Chief Compliance Officer with Deloitte Corporate Finance. From 1997 to 2011, Mr. Warley was Managing Director and Region Manager for GE Capital. From 1984 to 1997, Mr. Warley was with Bank of America and Bankers Trust as a Senior Vice President.


Mr. Warley holds the Financial Industry Regulatory Authority Series 7, 24 and 63 licenses. He earned his B.S. degree in Business Administration from The Citadel (The Military College of South Carolina) and served in the U.S. Army, attaining the rank of Captain.


While at Warley & Company LLC, Mr. Warley provided corporate finance consulting services to BD1 Investment Holding LLC, the Company's largest stockholder.