Stastney announces resignation from Chinese small hydro company

The China Hydroelectric Corporation has announced the immediate resignation of Shadron Lee Stastney from its board of directors.

Stastney, who has been a member of the board since October 2012 and one of the company’s directors from May 2007 through September 2012, will also vacate his place on China Hydroelectric’s compensation committee.

The decision “is not due to any disagreement with the company or any matter relating to the company’s operations, policies or practices,” China Hydroelectric said.

The company (NYSE: CHC) made several additions to its board of directors in August.

China Hydroelectric was founded in 2006 and now has offices in Beijing and New York City. The company owns 25 hydropower projects in China that have a cumulative installed capacity of 517.8 MW. HydroWorld.com reported in April that CHC had sold its 30-MW Yuheng project to an undisclosed buyer.

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