In order to systematically grasp the emerging opportunities in foreign photovoltaic markets within a difficult market environment, the Supervisory Board has decided to once again increase the SMA Managing Board from four to five members. “Given the changed underlying conditions in the international photovoltaic markets, the rigorous implementation and further development of the business strategy and SMA’s continued internationalization are decisive for the company’s long-term success,” explains Pierre-Pascal Urbon. “The enlargement of SMA’s Managing Board enables me to focus fully on these aspects.”
“With Lydia Sommer we now have - in addition to our proven executive team - another experienced international manager who will take over Finance and Legal,” explains Günther Cramer, chairman of the Supervisory Board of SMA Solar Technology AG. “While Pierre-Pascal Urbon will set the strategic course for the company’s future success, Ms. Sommer will develop the company’s financial independence and press ahead with the cost optimization.”
As of November 1, 2012, the Managing Board of SMA Solar Technology AG will comprise the following members: Pierre-Pascal Urbon (CEO, Strategy), Jürgen Dolle (Human Resources, Operations), Roland Grebe (Technology), Lydia Sommer (Finance and Law) and Marko Werner (Sales).
The SMA Group generated sales of €1.7 billion in 2011 and is the global market leader for solar inverters, a key component of all PV plants and, as an energy management group, offers innovative key technologies for future power supply structures. It is headquartered in Niestetal, near Kassel, Germany, and is represented in 21 countries on six continents. The Group employs more than 5,500 people worldwide, plus a number of temporary employees that varies on a seasonal basis. 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 photovoltaic plants connected to the grid as well as inverters for off-grid systems. SMA is therefore able to provide ideal technical inverter solutions for all plant sizes and types. 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. In recent years, SMA has received numerous awards for excellence as an employer and achieved first place in the nationwide “Great Place to Work®” competition in 2011 and 2012.
SMA Solar Technology AG
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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.
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