Changes in the management of IBC SOLAR AG

CFO Resignation / Appointment of COO

Bad Staffelstein / Germany, May 3rd, 2018 – IBC SOLAR AG, a global leader in photovoltaic (PV) systems and energy storage, announces personnel and structural changes to its management as of 1 July 2018.

Jörg Eggersdorfer who has been working as a commercial manager from 1 January 2009 and as the company’s CFO since 1 July 2010 is leaving the Executive Board on 30 June 2018 for personal reasons.

Following the departure of Jörg Eggersdorfer, IBC SOLAR AG will be reorganising the management bodies. Dr. Fred Friedmann is appointed to the Executive Board as Chief Operating Officer (COO) as from 1 May 2018. He will form the full Executive Board along with CEO Udo Möhrstedt.

Dr. Fred Friedmann is a graduate in business administration, holds a doctorate in business IT and has many years of experience in technical wholesale and construction project planning.

A Management Board was established below the Executive Board that prepares the most important decisions and takes them in conjunction with the full Executive Board. The top management team will be more diversified with this change and Udo Möhrstedt will also be given more freedom for strategic and visionary issues.

The following positions will be represented in this board: Dr. Fred Friedmann (with responsibility for Purchasing, Product Management, IT, Processes & Organisation); Dr. Stefan Golla (Head of Legal, Human Resources, Compliance); Andreas Grey (Head of Sales and Trading Germany, After Sales, Brand Management & Communication); Oliver Partheymüller (Head of Project Development Germany); Albert Engelbrecht (Head of Solutions International). A commercial manager will join the board on 1 August 2018.

The shareholders, the Executive Board and the Supervisory Board of IBC SOLAR AG would like to thank Jörg Eggersdorfer wholeheartedly for his years of dedicated work for IBC SOLAR AG and wish him the very best for his personal and professional future.