SMA Solar Technology AG Expands Managing Board in the Area of Technology
- Roland Grebe's contract has been extended for additional five years. As Board Member for Technical Innovation he will be responsible for further developing product solutions for hybrid and storage applications as well as for the development of system solutions for future business areas.
- As of April 1, 2014, Dr.-Ing. Jürgen Reinert has been appointed as Board Member for Technical Development. In this function, he will be responsible for the development of the new product platforms as well as expanding SMA development facilities worldwide.
- Marko Werner, Board Member for Sales, will not be available for an extension of his contract. The amount of travel required by his board position is not any longer compatible with his family circumstances. As Executive Vice President Marko Werner will be responsible for European sales starting on June 11, 2014.
SMA Solar Technology AG (SMA/FWB: S92) will extend the Technology board department to consist of Technical Innovation and Technical Development business areas. At the last meeting the SMA Supervisory Board extended the contract of hitherto Chief Technology Officer Roland Grebe for additional five years. As Board Member for Technical Innovation he will be responsible for further developing product solutions for hybrid and storage applications as well as the SMA system solutions. Roland Grebe will also be in charge of the development of technical solutions for future business areas.
In addition, Dr.-Ing. Jürgen Reinert has been appointed to the Managing Board. As of April 1, 2014, as Board Member for Technical Development, Mr. Reinert will be in charge of developing new product platforms and expanding SMA development facilities worldwide. The Managing Board contract has a term of five years. Employed at SMA since 2011, Dr.-Ing. Jürgen Reinert has served as Executive Vice President and was successful in expanding the global project business of the Power Plant Solutions division. The new product generation of Sunny Central inverters-that will be launched this year-was designed under his leadership.
Chief Sales Officer Marko Werner will not be available for an extension of his contract, which expires on June 10, 2014. The amount of travel required by his board position is not any longer compatible with his family circumstances. Marko Werner will be appointed Executive Vice President of European Sales on June 11, 2014. Pierre-Pascal Urbon, Board Member for Strategy (CEO), will assume responsibility for global sales and service until the board position is filled.
"By strengthening the Managing Board, SMA is underscoring its technological focus and embedding key elements of its corporate strategy on the management level," said Dr.-Ing. h.c. Günther Cramer, Supervisory Board Chairman of SMA Solar Technology AG. "The global photovoltaic market is undergoing major structural changes. Therefore, technology development is the key to achieving a global energy transition as well as for the required cost reduction. Only with innovative system technology will we be able to decentralize the supply structures in the energy industry. As an innovation leader, SMA can take a pioneering role in this regard and serve as a specialist for system technology in the world's growing photovoltaic market. With Dr.-Ing. Jürgen Reinert, next to Roland Grebe we have appointed to the Managing Board another outstanding development expert with long-standing international experience. I'm convinced that this was the right decision for expanding the technology leadership of SMA in the long term," added Günther Cramer.
"The decision made by Mr. Werner deserves our respect," said Günther Cramer, "and we are more than happy that he will continue to serve SMA as an excellent sales specialist. The massive changes taking place in the European photovoltaic market demand our full attention. Thanks to his long-standing experience and excellent customer contacts, Mr. Werner will play an important role in regaining market share in Europe," explained Mr. Cramer.
Effective June 11, 2014, the Managing Board of SMA Solar Technology AG will consist of the following members: Roland Grebe (Board Member for Technical Innovation), Dr.-Ing. Jürgen Reinert (Board Member for Technical Development), Lydia Sommer (Board Member for Finance and HR/CFO), Pierre-Pascal Urbon (Board Member for Strategy/CEO).
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Company (together with the Company, the "SMA Group") nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the Managing Board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
SMA Solar Technology AG
The SMA Group generated sales of more than €0.9 billion in 2013 and is the global market leader for solar inverters, a key component of all PV plants. As an energy management group, SMA offers innovative key technologies for future power supply structures. It is headquartered in Niestetal, near Kassel, Germany, and is represented in 21 countries. The Group employs more than 5,000 people worldwide. SMA's broad product portfolio includes a compatible inverter for every type of module on the market and for all plant sizes. The product range includes both inverters for grid-connected photovoltaic plants as well as off-grid and hybrid system technology. The product portfolio is supplemented by comprehensive services and operational management of utility-scale pv-plants. Since 2008, the Group's parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and also in the TecDAX index.