Phoenix Solar AG herewith announces that Mr.
Manfred Bächler, Chief Technology Officer, will be laying down his Executive Board mandate with effect from 31 December 2010 for personal reasons.
It is with great regret that the Supervisory Board of Phoenix Solar AG has acknowledged the wish of Mr. Bächler to withdraw prematurely from the Executive Board. The Supervisory Board wishes to thank him for his long-standing service as a Board member, his work in building up the company and the important and far-reaching impetus which characterised the influence he had on the company’s development.
The Supervisory Board and the Executive Board extend their best wishes to Mr. Bächler for his future private and professional life.
The tasks of Mr. Bächler will be assigned to other members of the Executive Board. Chief Executive Officer Dr. Andreas Hänel will in particular be assuming the role of Chief Technology Officer.
This is an English translation of the German original. Only the German version is binding.
Disclaimer
The content of this press release is solely for information purposes and is not intended to constitute a recommendation for investment or a solicitation to subscribe or an offer to buy or sell securities of the company. Phoenix Solar AG shall undertake no liability whatsoever for any loss in connection with this press release or the information made available. This also applies particularly to any eventual loss in connection with the shares of Phoenix Solar AG.
This document contains forward-looking statements on future developments which are based on management’s current assessment. Words such as “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “can/could”, “plan”, “project”, “forecast”, “should”, and similar terms are indicative of such forward-looking statements. Such statements are subject to certain risks and uncertainties which are mainly outside the sphere of influence of Phoenix Solar AG, but which have an impact on the business activities, the success, the business strategy and the results. These risks and factors of uncertainty include, for instance, climatic change, changes in the state subsidisation of photovoltaics, the introduction of competitor products or technologies of other companies, the development of the planned internationalisation of business activities, fierce competition as well as rapid technological change in the photovoltaic market. If one of these or other factors of uncertainty or risks should occur, or if the assumptions underlying the statements should prove incorrect, the actual results may diverge substantially from the results in these statements or implicit indications. Phoenix Solar AG does not have the intention nor will it undertake any obligation to realise forward-looking statements on an ongoing basis or at a later point in time as this is entirely dependent on circumstances prevailing on the day of their release.
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