SunPower makes several executive changes

SunPower Corp. (NASDAQ: SPWRA; SPWRB) announced several executive changes and a plan to cut costs company-wide.

The company named Howard Wenger as President of Regions and Jack Peurach will assume the title of Executive Vice President of Products effective immediately. The company also announced that Chief Financial Officer Dennis Arriola will be leaving in March 2012, and that Jim Pape, President of Residential and Commercial, will be leaving in late November.

SunPower plans to implement a company-wide restructuring program in the fourth quarter that is expected to reduce operating costs by as much as 10 percent in 2012, while growing the company.

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