Murthy Renduchintala
FIRST SOLARAbout Venkata “Murthy” Renduchintala
Independent director of First Solar, Inc. (FSLR), age 59, serving since 2024; currently Chair of the Technology Committee and slated to join the Audit Committee after the 2025 annual meeting. Former Chief Engineering Officer at Intel, with prior senior roles at Qualcomm, Skyworks, and Philips; holds a BE in Electrical Engineering, MBA, and PhD in Digital Communication from the University of Bradford, plus an honorary Doctor of Technology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Intel Corporation | Chief Engineering Officer; Group President, Technology, Manufacturing, and Systems Architecture | 2015–2020 | Executive committee; oversaw cybersecurity and risk management policy |
| Qualcomm Technologies (Qualcomm CDMA Technologies) | EVP; Co-President | 2012–2015 | Senior leadership in mobile technologies |
| Skyworks Solutions | VP & GM, Cellular Systems division | 2000–2004 | Led cellular systems business |
| Philips Electronics | Engineering leadership; VP Engineering, Consumer Communications | ~1990s–2000 | Progressed through decade of roles |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Accenture plc | Director | 2018–present | Audit and Finance Committees |
Board Governance
- Committee assignments: Technology Committee Chair; will join Audit Committee upon conclusion of the 2025 annual meeting (enhances financial oversight role) .
- Independence: Determined independent under Sarbanes-Oxley, SEC, NASDAQ, and company guidelines .
- Attendance: In 2024 the board met 5 times; every director attended ≥75% of board and assigned committee meetings; average attendance ~95% .
- Committee activity levels (2024): Audit (8 meetings), Compensation (6), Nominating & Governance (5), Technology (5) .
- Lead Independent Director: William J. Post; presides over executive sessions and agenda-setting per charter .
Fixed Compensation (Director)
| Component | 2024 Amount | Notes |
|---|---|---|
| Cash fees | $86,250 | Pro-rated annual retainer plus chair retainer (Tech Chair +$15k) |
| Stock awards (fully vested) | $135,358 | Quarterly grants; elected May 8, 2024 → received Q2, Q3, Q4 |
| Total | $221,608 | Non-associate director compensation |
Director retainer framework (applies to all non-associate directors): $100,000 cash + $180,000 stock annually; additional chair retainers (Audit +$35,000; Compensation +$25,000; Other Committee Chairs +$15,000); Lead Independent +$30,000 . Stock grants issued quarterly and fully vested; no perquisites; reasonable expenses reimbursed .
Performance Compensation (Director)
| Performance-linked elements | Status |
|---|---|
| Director bonus, options, PSUs, performance metrics | None disclosed; directors receive fixed cash retainer and fully vested stock grants |
Other Directorships & Interlocks
- Current public board: Accenture plc (Audit and Finance Committees) .
- Related-party/transaction interlocks: None disclosed for Renduchintala; the proxy lists related-party matters concerning another director (Ms. George) but none involving Renduchintala .
Expertise & Qualifications
- Deep technology and manufacturing oversight from Intel, Qualcomm, Skyworks, and Philips; cybersecurity and risk management exposure; board-level financial oversight experience via Accenture audit/finance committees .
- Skills matrix indicates strong technology, manufacturing/renewables, operations/strategic planning capabilities among board members (Renduchintala included) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Venkata “Murthy” Renduchintala | 637 | <1% | As of March 20, 2025 (107,240,417 shares outstanding) |
- Director ownership guideline: 5x cash retainer ($500,000) within 5 years; all non-associate directors either met or are on track as of Dec 31, 2024 .
- Insider trading/hedging: Prohibits short sales, puts/calls/derivatives, and purchasing on margin; policy applies to directors .
- Pledging: No explicit pledging disclosure; margin purchases prohibited .
Insider Trades and Compliance
| Date | Filing | Underlying Event | Notes |
|---|---|---|---|
| Jan 6, 2025 | Form 4 (late) | Reported Dec 31, 2024 quarterly stock grants to non-associate directors | Administrative late filings for multiple directors including Renduchintala |
Governance Assessment
- Strengths: Independent status; chairing Technology Committee aligns with FSLR’s technology-driven roadmap; upcoming Audit Committee membership adds financial oversight; director pay structure is balanced with equity to align interests; robust hedging prohibitions; director ownership guidelines with 5-year compliance window .
- Alignment: 2024 director stock grants are fully vested and issued quarterly; guidelines target meaningful ownership over time; no perquisites; transparent fee schedule .
- Conflicts/Related Parties: No related-party transactions disclosed for Renduchintala; audit committee oversight for related-party reviews effective .
- Attendance/Engagement: Board and committees active; directors broadly met attendance thresholds with high average participation (~95%) indicating strong engagement .
- Signals: Minor compliance footnote due to late Form 4 for Q4 2024 director grants, promptly corrected; not indicative of material governance risk .
- Broader investor sentiment: 2024 say-on-pay approved by >94% of votes, suggesting supportive governance environment (applies to executive comp but relevant to overall board credibility) .
RED FLAGS: None specific to Renduchintala disclosed. Monitor: ownership progression toward guideline ($500k within 5 years) given currently modest beneficial holdings; ensure timely Section 16 compliance in future cycles .