REpower Systems SE

euro adhoc: REpower Systems AG
Management Changes
REpower restructures management level

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Company Information


- Current Supervisory Board members Dr. Hans-Joachim Reh and Dr. Jorge Martins resign from office at the end of the year

- CEO Prof. Fritz Vahrenholt and André Horbach in company's Supervisory Board as of 1 January 2008

- Per Hornung Pedersen to become REpower´s CEO

- Executive Board to be expanded to five members in first half of 2008

Hamburg, 2nd November 2007. In preparation for the planned growth in the coming years, the management level of REpower Systems AG (WKN 617703) is to be restructured. This was resolved by the Supervisory Board in its meeting today. Dr. Hans-Joachim Reh and Dr. Jorge Martins will resign from their office as members of the Supervisory Board at the end of the year. Prof. Fritz Vahrenholt will withdraw from the day-to-day business as CEO of the wind turbine manufacturer by the end of year and move to the Supervisory Board. Mr. André Horbach, Group CEO of Suzlon will also join the Supervisory Board. Prof. Dr. Vahrenholt and André Horbach shall be appointed by the local court. It is also intended that Mr. Vahrenholt will be elected as the Deputy Chairman of the Supervisory Board. The Supervisory Board has appointed Per Hornung Pedersen as CEO from 1 January 2008.

Pedersen's last position was that of CEO of Suzlon Energy A/S in Aarhus, Denmark, a subsidiary of Suzlon Energy Ltd., Pune. The Indian company controls 86.5% of voting rights in REpower Systems AG.

In addition to Pieter Wasmuth and Matthias Schubert, two new members of the Executive Board, as yet unnamed, will be appointed during the first half of 2008. They will be responsible for the following corporate divisions: Purchasing, Production and Logistics and Sales, Marketing, Project Management and Asian business.

Having previously held positions such as that of director of Bosch Telecom Danmark A/S and CFO of NEG Micon, now owned by Vestas, since 1 August 2004, the designated CEO of REpower, Per Hornung Pedersen, was the CEO of Suzlon Energy A/S, responsible for expanding the company outside India and the associated development of Suzlon subsidiaries in countries including Denmark, the US, Australia, China, Spain or Brazil.

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ots Originaltext: REpower Systems AG
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Further inquiry note:
Thomas Schnorrenberg
Investor Relations Manager
Telefon: +49(0)40-53930-723

Branche: Alternative energy
ISIN:      DE0006177033
WKN:        617703
Index:    Prime All Share, CDAX, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / free trade

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