PCC Bakki Silicon chief executive to leave company in September

Kristín Anna Hreinsdóttir will step down as chief executive of PCC Bakki Silicon, a silicon plant near Húsavík, at the end of September, mbl.is reports.

She became the company’s chief executive at the end of last year, having previously served as its chief financial officer. She took over while production at the silicon plant was suspended because of difficult market conditions.

According to the company, Hreinsdóttir’s main focus has been steering PCC through challenging conditions in international silicon markets and ensuring that the plant is ready to resume operations when conditions allow.

The operating environment for European silicon producers remains extremely difficult because of continued oversupply in global markets and competition from Chinese producers. PCC said market conditions had changed little in recent months despite efforts by the company’s management and owners.

“During this period, the company has worked systematically to reach agreements with stakeholders, preserve its value and ensure that the plant is equipped to resume production when conditions allow,” Hreinsdóttir said in the announcement.

Thomas Salomon, chairman of PCC BakkiSilicon, thanked Hreinsdóttir for her work and said she had led the company with firmness and professionalism during challenging times.

The announcement did not say who would replace her or whether the company plans to appoint a new chief executive.