Ascent Solar Cuts Staff, Shuffles Strategy and CEO

Thorton, Colorado-based Ascent Solar Technologies, the developer of thin film solar technology, said Thursday afternoon that it has "resized" the company, shifted its strategy, and shuffled its CEO. The firm said it is adjusting staffing at the company to align with a new plan to shift on emerging and specialty markets, away from its former focus on building integrated photovoltaic markets. As part of that shift, the firm said that CEO Farhad Moghadam has stepped down, and is being replaced by board member Ron Eller. The firm did not say how many employees it is letting to as part of the strategy shift.