From Earlier: Hoku's Board of Directors Forms Restructuring Committee

Hoku Corporation

on Friday announced that its board of directors has formed a five-member committee to oversee and direct the Company's efforts to restructure its liabilities. Scott Paul, an executive officer of Hoku Corporation since 2003, and the Company's chief executive officer since 2010, will resign as CEO on June 30, and continue as a director and chairman of the newly formed restructuring committee. "Jeremy" Xiaoming Yin, the Company's president since early 2011, will begin reporting directly to the board of directors as the acting chief executive officer.