Solar Millennium seeks "quick" legal solution to Claassen calamity


The dispute between the two parties has been ongoing for over a year now, following Claassen’s resignation from the post of CEO after just 74 days.

This March, Solar Millennium AG announced it will sue Claassen for the full repayment of his €9 million signing fee after out of court settlements failed.

Now, six months later, the company says it hopes to resolve the situation "as quickly as possible".

In a statement released, current CEO, Christoph Wolff said, "The barrage of inquiries from journalists, which was triggered by Mr. Claassen's consultants prior to the upcoming negotiations before the Nuremberg District Court, is reportedly an imposition for the court as well as a considerable burden for Solar Millennium and its employees."

He added, "Solar Millennium could suffer damages from this. In the question of whether Mr. Claassen was lawful in resigning after 74 days as CEO and keeping his signing bonus of € 9 million, we hope to have this resolved as quickly as possible and without any further attacks on the company from the media."

Solar Millennium expects to receive the results from law firm Skadden Arps’ informal audit in the next few weeks. "Among other things," continued the statement, "this should clarify whether the company's incumbent bodies acted properly within the scope of the law in connection with the appointment and resignation of Mr. Claassen."

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