Massachusetts-based solar energy company Evergreen Solar has announced the appointment of a new president and chief executive officer.

According to the announcement, Michael El-Hillow is the new company president and CEO, replacing the outgoing Richard Feldt, who is moving on to another CEO position at a different company. El-Hillow has was also re-elected as a company director earlier in the week.

During his time with Evergreen Solar, El-Hillow has also served as a chairman of the board and initially was hired as chief financial officer. In light of his new position, the company indicated that it will now be searching for a new CFO.

"Mike's intimate involvement in all facets of Evergreen's strategy and operations position him as the ideal executive for elevating the company's operational and commercialization success. The Board is extremely pleased to have someone of Mike's caliber and demonstrated talent leading this company," said company board chairman Edward Grady.

Evergreen is known for its String Ribbon solar products, which feature a low-cost silicon wafer technology.