June 3, 2014

Advanced Energy shares fall on CEO resignation

FORT COLLINS – Advanced Energy Industries Inc. shares fell as much as 13 percent Tuesday following an announcement Monday that CEO Garry Rogerson planned to resign.

Shares fell to $16.52 Tuesday morning after opening at $19. The Fort Collins-based company makes solar and thin-films products.

New York City-based analyst Needham & Co. LLC downgraded the stock from a “buy” to “hold” Tuesday. Rogerson is viewed as a key figure in driving major operational changes aimed at strong earnings growth at Advanced Energy, Needham senior analyst Edwin Mok said in a report.

Rogerson’s planned departure follows the resignation of Advanced Energy’s solar unit President…

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