October 15, 2018 / 12:22 PM / 7 months ago

SMA Solar CEO steps down, to be replaced by deputy

FRANKFURT (Reuters) - SMA Solar, Germany’s largest solar group, on Monday named Juergen Reinert, deputy chief executive and board member for operations and technology, as its new CEO, replacing Pierre-Pascal Urbon, who is leaving after seven years at the helm.

The company, which last month cut its outlook for sales and profits, gave no reason for Urbon’s resignation, only saying it took place at his own request.

Last week, shares in SMA Solar hit their lowest level since June 2015.

Reporting by Christoph Steitz; Editing by Maria Sheahan

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