Urbon will also remain as SMA Chief Financial Officer
Niestetal, Germany, May 18, 2011 - Pierre-Pascal Urbon has been elected Chief Executive Officer of SMA Solar Technology AG (SMA/FWB: S92). Urbon, SMA's current Chief Financial Officer, was appointed to the additional position of CEO at a meeting of the Managing Board and will take over this assignment from his predecessor, Günther Cramer, following the SMA Annual General Meeting on May 26, 2011.
"The election of the new CEO and the planned move of two of the company's founders, myself and Peter Drews, to the Supervisory Board signals our next step in the systematic succession strategy of the Managing Board, and thus completes the generation shift that we have been planning carefully for many years," explains Günther Cramer, founder and present CEO of SMA. "After 30 years of managing operations, my colleague Peter Drews and I will, as planned, be candidates for the Supervisory Board at the upcoming Annual General Meeting. We both remain deeply committed to SMA and will continue to support the team in an advisory role."
Since 2009, Pierre-Pascal Urbon has been a member of the Managing Board, responsible for Finance, Law and Investor Relations. He joined SMA in 2005 and was appointed to the Managing Board in 2006. He has a Master of Business Administration degree and worked in consulting from 1997 to 2005. Born and raised in eastern Westfalia, Germany, he is married and the father of two children.
"With Pierre-Pascal Urbon, the post of new CEO is filled by a person recruited from SMA's own ranks. He has played a key role in directing the company on its present path and stands for strategic continuity. First of all, Pierre-Pascal Urbon was responsible for driving SMA's internationalization process forward, and he then implemented the corporate IPO. His wealth of experience in consulting, operative business management and in the international photovoltaic market will stand him in good stead, working together with his colleagues on the Managing Board and the worldwide SMA team to continue the company's success story", Cramer explains.
The members of the future Managing Board have borne great responsibility over many years at SMA and are a well-rehearsed team. Following the Annual General Meeting on May 26, 2011, the Managing Board will continue to comprise the following members: Jürgen Dolle (Chief Human Resources Officer), Roland Grebe (Chief Technology Officer), Uwe Hertel (Chief Operating Officer), Pierre-Pascal Urbon (CEO and Chief Financial Officer), and Marko Werner (Chief Sales and Marketing Officer).
The SMA Group generated sales of EUR 1.9 billion in 2010 and is the worldwide market leader for photovoltaic inverters, a key component of all solar power plants. It is headquartered in Niestetal, near Kassel, Germany, and is represented on four continents by 17 foreign companies. In 2010, the Group employed a staff of over 5,000 (incl. temporary employees). SMA's product portfolio includes the most comprehensive range of inverters on the market, offering a compatible inverter for every module type and for all plant sizes. The product range covers both inverters for photovoltaic plants connected to the grid as well as inverters for off-grid systems. 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 its excellence as an employer and lately reached first place in the federal "Great Place to Work" competition.
SMA Solar Technology AG
Vice President Corporate Communications
Phone +49 561 9522-11 25
Fax +49 561 9522-11 03
Phone +49 561 9522-11 24
Fax +49 561 9522-11 03
Director Investor Relations
Phone +49 561 9522-22 22
Fax +49 561 9522-22 23
Investor Relations Officer
Phone +49 561 9522-11 64
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 executive 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.