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Solar Millennium Surprised By Resignation

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CEO resigns with no explanation sending stocks down

Professor Dr. Utz Claassen has resigned from his duty as member and chairman of the management board of Solar Millennium AG. According to the company he referred to his contractual right to step down from his office within a certain consideration period. He did not provide the Company with details on his decision.

Chairman of the supervisory board Helmut Pflaumer: "The resignation came unexpectedly for the supervisory board. We respect the decision and welcome his intention to remain on friendly terms with the Company. The supervisory board will reorganize the duties of the management board in due course to ensure the sustainable growth of Solar Millennium AG."

Solar Millennium AG, Erlangen, is an international company in the renewable energy sector, with its main focus on solar-thermal power plants. Together with its subsidiaries and associates, the Company specializes in parabolic trough power plants and has managed to take a globally leading position in this field. Solar Millennium strives to further extend its expertise in the area of solar-thermal power plants with the aim of achieving and securing sustainable technology leadership. As such, the Company covers all important business sectors along the value chain for solar-thermal power plants: from project development and financing to the technology and the turnkey construction and operation of power plants.

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