SunEdison Names An Ex-Greenlight Capital Partner To Its Board Of Directors; Shares Soar

Shares of Sunedison Inc SUNE were trading higher by nearly 12 percent Wednesday. The company announced a new addition to its Board of Directors.

Sunedison's Board of Directors appointed Claire Gogel as an independent director, effective immediately. Gogal is a former Partner at Greenlight Capital, an investment fund that disclosed an activist stake in the company on Monday.

Greenlight Capital also requested the company "appoint a person designated by Greenlight to the Board."

Gogel will join the Nominating and Corporate Governance Committee and the Finance and Investment Committee of Sunedison's Board of Directors.

Sunedison also announced a change in its bylaws. The company noted it will not be permitted to partake in any equity issuances without a supermajority vote of the Board.

Emmanuel T. Hernandez, Executive Chairman of the Board of SunEdison, said: "As we work to navigate current market conditions, we are very pleased that we will have the benefit of tapping the expertise of a highly-qualified director endorsed by a significant shareholder. We also believe that the new bylaw amendment makes clear our unequivocal commitment to SunEdison and its common shareholders."

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