Real Goods Solar CEO to step down

  @ibtimes on September 12 2009 11:17 AM

Residential and small commercial solar energy integrator Real Goods Solar said its Chief Executive Tom McCalmont would step down.

In a filing with the U.S. Securities and Exchange Commission, the company said President John Schaeffer would assume additional responsibilities.

Real Goods, which last month posted better-than-expected second-quarter results and forecast third-quarter revenue above analysts' estimates, said McCalmont will continue to serve on its board.

Shares of the company closed at $2.87 Friday on Nasdaq. The stock, which has doubled from a March year-low, is still off more than 50 percent from a November 2008 year-high. (Reporting by Adveith Nair in Bangalore)

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