Meyer Burger CEO Gunter Erfurt has resigned, with Franz Richter as his successor. CFO Markus Nikles is also stepping down as part of the company’s restructuring, which includes job cuts, mainly in Europe.
Meyer Burger Technology AG said this week it has begun a strategic reorientation, including changes to its management team.
These steps include a comprehensive restructuring of the company’s top management, with CEO Gunter Erfurt leaving the Swiss-based PV manufacturer and handing over management to former chairman of the board Franz Richter.
However, according to the announcement, Erfurt “will be available to the board of directors during a transition period in an advisory role with its extensive industrial network and knowledge of the international solar industry.”
Richter says Erfurt has played a key role in shaping Meyer Burger’s recent years as CEO and CTO, leading the company’s shift from manufacturing equipment supplier to 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 years of experience in the restructuring of industrial companies to his new position,” says Richter.
Erfurt also spoke out on LinkedIn.
“It was a great honor for me – all the best for the company and its team, its customers and all its supporters. Good luck and good luck for a bright future.”
He thanked everyone who worked with him and the company.
“Unfortunately, European politicians were too afraid of China and were unwilling to protect the European solar industry from unfair competition and, especially in these times, to seize the unique opportunity to kick-start a European job engine based on leading European solar energy technology,” said Erfurt. “I maintain my firm belief: Europe has both the technology, the skilled 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 also courageously puts them into practice brings … 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, while Ralf Hermkens (US) and Frank Zimmermann (Europe), both executive vice presidents, will take over finance and control. The management has been reduced to three people, with the focus on a rapid return to profitability.
COO Daniel Menzel will now oversee sales in addition to his current role, while CSO Katja Tavernaro will handle legal and human resources during the restructuring. Meyer Burger has also launched a restructuring program aimed at restoring profitability.
“In addition to the focus on the production areas in Thalheim (Germany, cell) and Goodyear (USA, module), the technological capabilities in Hohenstein-Ernstthal (Germany) must be maintained in order to further develop the technology in the future. future,” says Meyer Burger.
The company said it plans to reduce its global workforce from about 1,050 to 850 by the end of 2025, mainly in Europe.
It added that it plans to explore sales of technology and equipment to strategic customers in solar cell and module technology manufacturing to increase sales and profit margins. The company will maintain liquidity by selling solar panels from existing inventories and developing other unspecified assets. It also said it is analyzing various options to close the remaining funding gap.
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