From pv magazine Germany
Meyer Burger Technology AG said this week that it has begun a strategic reorientation, including changes to the management team.
These steps include a comprehensive restructuring of the company's top management, with CEO Gunter Erfurt leaving the Switzerland-based PV manufacturer and handing over the management to previous Chairman of the Board of Directors Franz Richter.
However, according to the announcement, Erfurt will “be available to the board of directors in an advisory capacity during a transitional period with his extensive industry network and knowledge of the international solar industry.”
Richter said that Erfurt played a key role in shaping Meyer Burger's recent years as CEO and CTO, leading the company through its shift from a production equipment supplier to a solar cell and module manufacturer in a challenging market.
“With his tireless commitment to Meyer Burger and the European and American solar industry, Erfurt has become a renowned advocate for the industry worldwide. Richter himself wants to bring his many years of experience in the restructuring of industrial companies to his new position,” said Richter.
Erfurt also spoke out on LinkedIn.
“It was a great honor for me – the best to the company and its team, its customers and all supporters. Good luck and much success for a sunny future.”
He thanked everyone who worked alongside him and the company.
“Unfortunately, European politicians were too afraid of China and were not prepared to protect the European solar industry from unfair competition and, especially in these times, to seize the unique opportunity to start a European job engine based on leading European solar technology,” said Erfurt. “I stand by my firm conviction: Europe has both the technology, the trained people and the entrepreneurial creativity to be successful, it just needs an industrial policy that not only recognizes the signs of the times in speeches, but courageously puts them into practice … Solar energy is and will remain an important manufacturing industry for the future of Europe.”
Markus Nikles, the current CFO, will also leave Meyer Burger, with Ralf Hermkens (USA) and Frank Zimmermann (Europe), both executive vice presidents, taking over finance and controlling. The management board has been reduced to three people, with a focus on quickly returning to profitability.
COO Daniel Menzel will now oversee sales in addition to his current role, while CSO Katja Tavernaro will handle legal and personnel matters during the restructuring. Meyer Burger has also launched a restructuring program aimed at restoring profitability.
“In addition to focusing on the production areas in Thalheim (Germany, cell) and Goodyear (USA, module), the technological capabilities in Hohenstein-Ernstthal (Germany) are to be maintained in order to be able to further develop the technology in the future,” said Meyer Burger.
The company said it plans to reduce its global workforce from about 1,050 to 850 by the end of 2025, primarily in Europe.
It added that it plans to explore selling technology and equipment to strategic customers in solar cell manufacturing and module technology to boost sales and profit margins. The company will maintain liquidity through solar module sales from existing inventory and by developing other unspecified assets. It also said that it is analyzing various options to close the remaining financing gap.
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