MEMC Electronic Materials Appoints 3 Execs

ST. PETERS, Mo. (AP) -- MEMC Electronic Materials Inc., a maker of silicon wafers, said Friday it has appointed three executives in a move intended to eventually establish a more formal business structure focused on the company's semiconductor and solar markets.

Ken Hannah, 41, who has served as senior vice president and chief financial officer since 2006, has been promoted to the new post of executive vice president of the St. Peters, Mo., company and president of MEMC solar materials. He will be responsible for sales and manufacturing operations for polysilicon and solar wafers.

Shaker Sadasivam, 50, has been appointed executive vice president and president of MEMC semiconductor, which handles semiconductor wafer sales and manufacturing operations.

Tim Oliver has been appointed senior vice president and chief financial officer, effective Nov. 2. Oliver, 41, was most recently senior vice president and CFO at Metavante Technologies.

MEMC shares rose 23 cents to $16.10 in morning trading.