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12.05.2009 00:00

Q-Cells announces changes in Supervisory Board composition

  • Menno Harms and Andrew Lee to join Supervisory Board under new chairman Marcel Brenninkmeijer
  • After ten successful years, co-founder Dr. Thomas van Aubel and Dr. Dinnies von der Osten do not seek reelection

Bitterfeld-Wolfen, 12 May 2009 – The Annual General Meeting of Q-Cells SE (QCE; ISIN DE0005558662) will elect a new Supervisory Board on 18 June 2009 due to last year’s change of the Company’s legal form into a European Company (SE). The present Chairman of the Supervisory Board, Dr. Thomas van Aubel, as well as the Vice Chairman, Dr. Dinnies J. von der Osten, will not stand for reelection to the Supervisory Board. Both are planning to dedicate themselves more strongly to their other investments in the future. The Supervisory Board intends to elect its long-standing member Marcel Brenninkmeijer, President of the Supervisory Board of Good Energies AG, as the new Chairman of the Supervisory Board. In addition to that, two experienced industry experts shall join Q-Cells’ Supervisory Board, namely Prof. Menno Harms, who for many years led the German business of Hewlett Packard, and Andrew Lee, active in project financing at Good Energies. Together with Marcel Brenninkmeijer and Richard Kauffman he will therefore be the third member of the Q-Cells Supervisory Board nominated by Good Energies.

The supervisory board changes reflect a desire by the Company and Good Energies to more closely work together to better achieve its international growth targets amid the current market environment which is challenging all players in the industry. Good Energies as a long term investor will thus further extend its personal commitment to Q-Cells. Good Energies has partnered with management since its initial investment in 2002.

Dr. Thomas van Aubel and Dr. Dinnies J. von der Osten have accompanied Q-Cells since the foundation in 1999 both as investors and Venture Capital investors respectively from day one and as members of the Supervisory Board. During their incumbency they have led the Company from a start-up with four employees in the village of Thalheim via the IPO and the listing in the German technology index TecDAX to being the world’s largest producer of solar cells with currently more than 2,500 staff worldwide. Q-Cells highly appreciates their achievements for the Company and thanks both for their outstanding commitment as well as for the successful and trustful cooperation over the last ten years.