- Meyer Burger has picked Markus Nikles to join the company as its new CFO from September 1, 2022
- He will replace Nathalie Benedikt and comes with over 20 years of work experience with Switzerland’s Bühler Group
- Meyer Burger is currently focused on expanding its German module production facility, developing a new module facility with an additional 400 MW at Freiberg
European solar cell and module manufacturer Meyer Burger Technology AG has found a new Chief Financial Officer (CFO) for the group in Markus Nikles who will join the position officially on September 1, 2022.
Nikles will take over from Nathalie Benedikt who lasted only a few weeks in the position at Meyer Burger before requesting for her contract to be terminated due to personal reasons (see Meyer Burger Loses Newly Appointed CFO). Currently, various members of the Executive Board are sharing responsibilities of the CFO.
Having completed his Executive Master of Corporate Finance (EMCF) at Switzerland’s Institute of Financial Services Zug, Nikles has worked for more than 25 years in various finance positions at the Swiss multinational plant equipment manufacturer Bühler Group.
His experience spans financial management within major international companies, group and project controlling, liquidity planning, cash pooling and net working capital management.
Meyer Burger says in his new position, Nikles will be responsible for the fields of finance, controlling, IT, risk management, internal control system and investor relations.
“In Markus Nikles, we have been able to recruit a CFO with roots in Switzerland but who also has personal knowledge of the US, Germany and Asia,” said Chairman of the Board of Directors, Franz Richter. “His extensive professional experience in an international industrial group, his in-depth expertise and his pragmatic attitude are very valuable assets with regard to the further growth phase of our company.”
Production plans update
The solar module producer recently said it is developing a new module production facility with an additional 400 MW at its Freiberg site in Germany, using space in the logistics center that lies close to its existing plant. Solar cells for this additional capacity are for the time being utilized from the company’s solar cell production site in Thalheim in Bitterfeld-Wolfen, instead of shipping these to the US.
Meyer Burger said this will help optimize the planned expansion to a total nominal annual capacity of 1.4 GW for 2023 as it navigates the current global dynamics of logistics and supply situation, and energy crisis in Europe with the ongoing war in the Ukraine, using this time as an opportunity to pursue further development in Germany (see Meyer Burger Raises Capital To Expand Production Capacity).
Management explained that while this helps contribute to strategic energy autonomy of Europe as a whole, it will also enable the company to minimize supply chain risks.
Meanwhile, its 1.5 GW Arizona fab plans remain on track and sales of its high-performance modules in the US are progressing as planned, it assured (see Meyer Burger Zeroes In On Arizona, US).