Switzerland’s Meyer Burger, a leading supplier of solar production technology, has today announced a series of top-level changes at executive management and board level that will see former CEO Peter Pauli stand down at the end of the year.
The new CEO is Hans Brändle, who is the former CEO of Oerlikon Coating, while Alexander Vogel will leave his post as vice chairman of the board of directors to become chairman of the board as of December 2.
Additional notable appointments to the Meyer Burger board include the appointment of former Applied Materials CEO Michael R. Splinter, and ML Insights AG founder Hans-Michael Hauser.
In September Meyer Burger announced a major restructuring program designed a cutting costs by a further CHF 50 million. Having posted positive first half 2016 financials, the firm’s Q3 results revealed increased order figures and revenue as well as a recapitalization program that will see Meyer Burger issue CHF 160 million in new shares next year.
Peter Pauli, Meyer Burger said today in a statement, initiated this solid turnaround in the company’s fortunes during many challenging periods.
"Peter Pauli has led the company as CEO for the past 14 year and has made a very significant contribution to building Meyer Burger into a globally recognized market and technology leader in the PV industry," said designated chairman of the board of directors, Alexander Vogel. "We sincerely thank him for his deep commitment, which was exemplary and very impressive.”
Pauli will step down on December 2 but will offer guidance to new CEO Brändle until the end of the year, Meyer Burger said.
"With Brändle, the board of directors is very pleased to have a new CEO with strong knowledge of our industry and proven leadership skills," added Vogel. "His work will be crucial in ensuring that Meyer Burger takes advantage of future opportunities in the market and realises the full potential of its technologies. An important sign of confidence is the willingness of Michael R. Splinter and Hans-Michael Hauser to join the Board of Directors at this important point in time for our company. We are particularly pleased that we will be able to profit from Michael R. Splinter’s extensive experience in the cyclical semiconductor and solar business."