Change in the executive board of Phoenix Solar

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Dr. Köhler will take up his duties on January 1, 2012 as the successor to Sabine Kauper, chief financial officer, who, upon expiry of her five-year contract on December 31, 2011, has made the decision to seek new professional challenges.

Dr. Köhler will assume responsibility for finance, along with Personnel and Organisation Development, International Process and IT Management, Internal Audit and Law, and take over from Sabine Kauper as of January 1, 2012.

In the person of Dr. Köhler, Phoenix Solar AG will be gaining a board member with extensive international and managerial experience. Having worked for more than ten years at Siemens AG in a number of different commercial and production-oriented managerial positions, with responsibility for international business, Dr. Köhler, who holds a doctorate in business administration, then joined TA Triumph Adler AG as CFO where he played an important role in restructuring and refinancing the company.

Sabine Kauper has worked for Phoenix Solar AG since 2000 and has built up the finance department. She has been the board member in charge of finance since 2007. "In Dr. Köhler, we have found an experienced manager with whom we will be able to optimally position the Executive Board for its future tasks. We thank Sabine Kauper for her successful work at Phoenix Solar AG, also in the currently challenging market environment, and express our regret that we will be losing an experienced Board member who has made a decisive contribution to contributing to the company’s success in recent years," stated Michael Fischl, chairman of the supervisory board of Phoenix Solar AG.