Advanced Energy’s solar chief Tredger resigns

FORT COLLINS – Gordon Tredger, president of Advanced Energy Industries Inc.’s (Nasdaq: AEIS) solar unit, will receive a total of $241,000 following his resignation this week from the company.

Tredger will receive $225,000 for nine months base salary, according to a filing by Advanced Energy with the U.S. Securities and Exchange Commission. Fort Collins-based Advanced Energy will pay Tredger an additional $16,000 for eight months of benefits.

Tredger resigned from Advanced Energy on Monday, the same day the company announced first-quarter earnings of $14.7 million compared with $6.8 million during the same period a year earlier. First-quarter solar inverter sales rose to $58.1 million compared with $50 million during the first quarter of 2013.

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Advanced Energy shares fell nearly 19 percent to $17.45 in afternoon trading.

Tredger has worked for Advanced Energy since December 2011, according to Advanced Energy’s website. He had nearly 25 years of technology management experience.