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Centrotherm announces management changes

As part of its ongoing reorganization process, centrotherm photovoltaics AG has announced a number of management and supervisory board changes. Of particular note, Chief Restructuring Officer (CRO), Jan von Schuckmann will become the new CEO and CTO, Peter Fath will step down from the management board.

Centrotherm has until October 12 to submit its reorganization plan to the Ulm district court for approval.

centrotherm photovoltaics AG

The Germany-based company, which was granted its application to file for self-administration on October 2, has announced a number of personnel changes. Having been appointed CRO in June to help implement the company’s ct focus restructuring program, Schuckmann has now been awarded the title of CEO of centrotherm.

Meanwhile, current CEO, Robert Hartung will be relieved of his position as member of the management board, and will now succeed his father, company founder Rolf Hartung as a court-appointed supervisory board member "in line with the proposal of TCH GmbH, which holds more than 25 percent of the voting rights in the company."

Brigitte Zürn and Rolf Breyer will also stay on the supervisory board, after the management board applied to the District Court of Ulm for their renewed appointment.

CTO, Peter Fath will step down from his management board position, although centrotherm has said he will remain "connected with the company in another function". Specifically, he is expected to help to drive company activities in the MENA region, and, particularly in Algeria.

Another company founder and former management board member Hans Autenrieth will further undertake sales and marketing responsibilities, while authorized representative of centrotherm photovoltaics AG and CEO of centrotherm thermal solutions GmbH & Co. KG and centrotherm cell & module GmbH, Peter Augustin will work on expanding the company’s solar cell and module business, and diversify the area of semiconductors and microelectronics.

Following its filing for insolvency protection in July, and the acceptance of its self-administration application, centrotherm now has until October 12 to submit its reorganization plan to the Ulm district court for approval. It must then be accepted by the company’s creditors and confirmed by the court.