In a very sudden and unexpected development, Germany based solar PV inverter maker SMA Solar Technology AG has announced the departure of its long time Chief Executive Officer (CEO), Pierre-Pascal Urbon. He will stay with SMA till the end of the year though.
The only reason the company gives is that Urbon leaves the company 'at his own request' after leading the company as the CEO for close to 8 years. Urbon has also resigned from the management board in agreement with the supervisory board. The management thanked Urbon for his efforts in internationalization of the company, and also carrying out its restructuring in 2015.
"Pierre-Pascal Urbon has played a major role in the successful IPO, the company acquisitions of recent years and the strategic reorientation, thus contributing to SMA's strong strategic and financial position. The SMA founders thank him for his very good performance," said SMA Co-Founder and Member of the Supervisory Board, Peter Drews.
Urbon has been replaced, with immediate effect, by the current Deputy CEO and Board Member for Operations and Technology, Dr.-Ing. Jürgen Reinert. He will be responsible for Sales and Service in addition to Technology and Operations businesses. An Electrical Engineer by education, Reinert has been with SMA Solar since 2011. He entered the Management Board of the company in 2014.
Existing Board Member for Finance, Human Resources and Legal, Ulrich Hadding will also assume responsibility for Investor Relations.
In the first 6 months of 2018, SMA Solar managed to report higher sales and better shipments despite facing short supply of electronic components for its production processes (see SMA Solar Sold More & Earned More In H1/2018). But end of September, it lowered its 2018 business outlook (see SMA Lowers 2018 Guidance Range By 6-15%).
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