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Meyer Burger announces changes in its Executive Management and Board of Directors Hans Brändle, previously CEO of Oerlikon Coating, appointed Chief Executive Officer of Meyer Burger Technology Ltd as of 1 January 2017Alexander Vogel, currently Vice Chairman of the Board of Directors, will assume the role of Chairman of the Board of Directors as of 2 December 2016, the date of the Extraordinary Shareholders’ MeetingMichael R. Splinter, previously CEO and Chairman of Applied Materials, and Hans-Michael Hauser, founder of ML Insights AG and previously Boston Consulting Group, nominated for election to the Board of Directors at the Ordinary Shareholders’ Meeting 2017Michael R. Splinter will support the Board of Directors and the Management as designated Delegate of the Board of Directors effective 1 January 2017
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) today announced that Hans Brändle has been appointed Chief Executive Officer as of 1 January 2017. The current CEO, Peter Pauli, will introduce the new CEO to his tasks until the end of the year and he will remain available to the Board of Directors and the new CEO in a consulting role with a focus on supporting major customer relationships. Alexander Vogel will assume the role of Chairman of the Board of Directors from Peter M. Wagner on 2 December 2016, the date of the Extraordinary Shareholders’ Meeting. The Board of Directors will also be further strengthened. At the Ordinary Shareholders’ Meeting on 27 April 2017, Michael R. Splinter and Hans-Michael Hauser will be proposed for election to the Board of Directors. Michael R. Splinter will also provide support to the Board of Directors and Management as designated Delegate of the Board of Directors beginning 1 January 2017.
In the first nine months of 2016, Meyer Burger has made significant progress in terms of incoming orders, net sales and cost management. The positive EBITDA in the first half year and as per the end of September 2016 confirm this positive development. Peter Pauli and his management team have initiated the turnaround of the company in a challenging environment. The structural programme which was announced at the end of September 2016 is being carried out efficiently and shall reduce, at unchanged level of net sales, the company’s current annual operating cost base by about CHF 50 million. This will lay the foundation for achieving sustainable profitability.
In the coming days, the convertible bondholders and the shareholders of Meyer Burger Technology Ltd will determine the course for decisively strengthening the capital structure. Through the planned recapitalisation programme the company will secure redemption of the CHF 130 million straight bond which is due in May 2017, and it will create a solid base to further develop Meyer Burger’s recognised strong technologies and its leading position in the market. The Board of Directors and the Management are convinced that the successful implementation of the recapitalisation programme will provide the company with the required financial strength and flexibility, to profit from the growth opportunities in the solar industry, on the basis of a competitive cost structure, which is in the best interest of all stakeholders.
Alexander Vogel, designated Chairman of the Board of Directors, said: “Peter Pauli has led the company as CEO for the past fourteen years and has made a very significant contribution to building Meyer Burger into a globally recognised market and technology leader in the photovoltaic industry. We sincerely thank him for his deep commitment which was exemplary and very impressive. As per Peter Pauli’s request, he will step down from the Board of Directors of Meyer Burger Technology Ltd on 2 December 2016. The Board of Directors and the Management wish Peter Pauli all the best for both his personal and professional future.”
Alexander Vogel commented further: “Peter M. Wagner has executed his responsibilities within the Board of Directors under some very difficult market conditions and he is completing his role with significant measures for our company and a smooth transition of leadership. On behalf of the Board of Directors I would like to thank him for his work and we wish him all the very best for his future.”
With Hans Brändle, the Board of Directors is very pleased to have a new CEO with strong knowledge of our industry and proven leadership skills. His work will be crucial in ensuring that Meyer Burger takes advantage of future opportunities in the market and realises the full potential of its technologies. An important sign of confidence is the willingness of Michael R. Splinter and Hans-Michael Hauser to join the Board of Directors at this important point in time for our company. We are particularly pleased that we will be able to profit from Michael R. Splinter’s extensive experience in the cyclical semiconductor and solar business.”
Peter M. Wagner will step down from the Board of Directors of Meyer Burger Technology Ltd on 2 December 2016. Michael R. Splinter will also support the Board of Directors and Management as designated Delegate of the Board of Directors beginning 1 January 2017. Michael R. Splinter and Hans-Michael Hauser are immediately available to the Board of Directors and will be proposed to the Ordinary Shareholders’ Meeting on 27 April 2017 for election to the Board of Directors.
Brief Portraits
Hans Brändle (Swiss citizen, born 1961) was CEO of Oerlikon Coating from 2005 to 2014, today Oerlikon Surface Solutions, a division of Oerlikon, with sales of around CHF 500 million and 3,500 employees. During the economic downturn of 2008 and 2009, costs were quickly and consequently reduced under his leadership. In the market upturn which followed, the company profited significantly and was able to further expand its position in the PVD/PECVD hard coating market and achieve a sustainable EBIT margin of over 20%. The basis for this successful development was the focus on innovation and technology leadership, the creation of an organisation which was close to the market and managed with clear objectives as well as a disciplined cost and portfolio management.
In 2006 and 2007 Hans Brändle also managed the new Solar division prior to its becoming an independent division. Prior to his entry as an R&D project manager in the former Oerlikon Bührle/Balzers, Hans Brändle did research as Post Doc and Visiting Scientist at the IBM Almaden Research Center in San Jose (CA). He holds a Doctorate in Physics from the ETH Zurich and an Executive MBA from the University of St. Gallen. Hans Brändle is non-executive Chairman of the Liechtensteinischen Post and a member of the Board of Directors for a start-up company in the area of semiconductor detectors.
Hans Brändle joins Meyer Burger on 1 December 2016 and will take over the role as CEO as of 1 January 2017.
Michael R. Splinter (US citizen, born 1950) is co-founder of WISC Partners, LLC, an investment fund which supports technology companies and projects. From 2003 to 2013 Michael R. Splinter was Chief Executive Officer of Applied Materials Inc., a leading global company in the semiconductor industry. He was also Chairman of the Board of Applied Materials Inc. from 2009 to 2015. Under his leadership, Applied Materials significantly increased its market share and developed a broad spectrum of commercially successful technology applications. Prior to this Michael R. Splinter was employed by the Intel Corporation for nearly twenty years. Among his key roles at Intel, he led the development of leading global production processes for the introduction of new technologies as well as development projects for new technologies. From 2001 Michael R. Splinter held the position of General Manager of the Technology and Manufacturing Group. As Director of the Sales and Marketing Group and as Executive Vice President, he was also responsible for global sales and operations at Intel. Michael R. Splinter is member of the Board of Directors for NASDAQ QMX and Pica8.
Hans-Michael Hauser (German citizen, born 1970) is founder of ML Insights AG and supports companies with the development and introduction of digital business models. From 1995 to 2015 he was employed by the Boston Consulting Group (BCG) in Munich and Zurich and he held the position of Partner and Managing Director from 2005. In this role, one of his responsibilities was the expansion of BCG’s consulting business in the industrial and technology sectors in Switzerland and Germany.
Hans-Michael Hauser hold a Masters in Physics and Mathematics from the University of Stuttgart, a diploma in engineering science from the Ecole Centrale in Paris and an MBA from the J.L. Kellogg Graduate School of Management in Evanston. He is a member of the Board of Directors for Mikron AG.
Alexander Vogel (Swiss citizen, born 1964) is an attorney and partner in the law firm Meyerlustenberger Lachenal. Alexander Vogel studied business administration and law at the University of St. Gallen where his dissertation focussed on company and group law. He also holds a Master of Laws (LL.M.) degree from Northwestern University Chicago. From 2010 to 2015 he was Chairman of the Board of Directors of Airopack Technology Group which is listed on the SIX Swiss Exchange. Alexander Vogel has been Vice-Chairman of the Board of Directors of Meyer Burger Technology Ltd since 2006.
Contacts:
Werner Buchholz
Head of Corporate Communications
Phone: +41 (0)33 221 25 06
werner.buchholz@meyerburger.com
Ingrid Carstensen
Corporate Communications
Phone: +41 (0)33 221 28 34
ingrid.carstensen@meyerburger.com
About Meyer Burger Technology Ltd
www.meyerburger.com
Meyer Burger is a leading global technology company specialising on innovative systems and processes based on semiconductor technologies. The company’s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. Over the past ten years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies.
Meyer Burger’s offering in systems, production equipment and services along the photovoltaic value chain includes the manufacturing processes for wafers, solar cells, solar modules and solar systems. Meyer Burger provides substantial added value to its customers and clearly differentiates itself from its competitors by focusing on the entire value chain.
The company’s comprehensive product portfolio is complemented by a worldwide service network with spare parts, consumables, process know-how, customer support, after-sales services, training and other services. Meyer Burger is represented in Europe, Asia and North America in the respective key markets and has subsidiaries and own service centres in China, Germany, India, Japan, Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. The company is also working intensively to develop new markets such as South America, Africa and the Arab region. The registered shares of Meyer Burger Technology Ltd are listed on the SIX Swiss Exchange (Ticker: MBTN).
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