GCL-Poly Energy Holdings' board members biggest solar earners

The eight executive directors of GCL-Poly Energy share a salary of nearly 11 million dollars.

Rotterdam, July 3, 2012 - According to Solarplaza's "Top 10 Best-Paid Management Boards", GCL-Poly Energy Holdings has the best-paid management board of all stock-listed solar PV companies. Compared to 2010, GCL board members' average compensation has increased by 114%. GCL is one of four companies in this Top 10 that have increased their board's compensation since 2010.


The other three companies who have increased their management board's average compensation are Sunpower (3.3%), REC Solar (6.9%) and Suntech Power (104%). Most companies in the Top 10, however, have made cuts in their board's aggregated compensation in 2011. Conergy, for example, decreased their management board's average compensation by 43%, Power-One by 47% and First Solar by 59% (despite First Solar occupying second place in Solarplaza's "Market Capitalization Top 10"). These management compensation cuts reflect the industry-wide struggle.

GCL-Poly, however, seems to be moving in the opposite direction. The eight executive directors of GCL-Poly Energy share a salary of nearly 11 million dollars. Each executive director receives approximately 1.3 million dollars a year (exclusive of shares). This means that GCL's directors earn about 3.5 times as much as the executive directors of Suntech, which occupies the tenth position in the Top 10.

An interesting detail is the fact that the relatively well-performing Chinese manufacturers Jinko Solar, Trina Solar and Yingli Solar are not listed in the Top 10. They can be found in the Top 20, though, and they are steadily increasing their management board's average compensation.

See the full Top 10 list of The World's Best-Paid Management Boards of Stock-Listed Solar PV Companies in 2011 and the link to the complete Top 20 here: http://www.solarplaza.com/top10-best-paid-management-boards/

About Solarplaza
Solarplaza is the independent global platform for knowledge, trade missions and events related to solar energy. Solarplaza is located in Rotterdam and has already organized over thirty international conferences and trade missions in Greece, California, France, Taiwan, China, India, Italy, Germany and Spain, to mention just a few.

Featured Product

Roof Tech – E Mount AIR

Roof Tech - E Mount AIR

The most compact versatile rail-less PV mounting system under the sun. Instead of placing solar panels on top of long rails, simply attach E Mount AIR to rafters or the roof decking. Once panels are fastened to the roof, the system array is electrically bonded. The result is a visually seamless PV installation that stands the test of time. - Truly "One With The Roof". - PE stamped cert. letters available, UL 2703 Classified, ASTM 2140 fully waterproof. The one and only with integrated flexible flashing certified by the ICC! All the best quality. Only from Roof Tech