Meyer Burger, a manufacturer of solar cells and modules, has named Franz Richter as its new CEO following the resignation of former CEO Gunter Erfurt and CFO Markus Nikles.
Richter, who was already a member of the company's board of directors, brings extensive experience in restructuring industrial companies, alongside a strong background in mechanical engineering and physics.
Before joining Meyer Burger, Richter held operational roles at Süss MicroTec AG and Dr. Hönle AG, where he gained expertise relevant to Meyer Burger's current challenges.
Commenting on his new role, Richter emphasized the company's potential, stating that the strategic shift is necessary to enhance market position and secure long-term profitability.
Meyer Burger recently announced a “strategic realignment,” focusing on production and technology to return to profitability. The plan includes reducing its workforce from 1,050 to 850 employees by the end of 2025. Additionally, the company canceled plans to build a 2GW solar cell manufacturing plant in Colorado, deeming the project financially unviable.
These developments reflect Meyer Burger's efforts to streamline operations and adapt to changing market conditions. The company aims to leverage its technological strengths as it navigates this period of restructuring.
