DGAP-News

Phoenix Solar AG appoints new CEO and new CFO

DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): Change of
Personnel
Phoenix Solar AG appoints new CEO and new CFO

19.12.2014 / 21:26

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Phoenix Solar AG appoints new CEO and new CFO

- Tim P. Ryan to lead photovoltaic system integrator commencing.. 1
January 2015

- Manfred Hochleitner appointed CFO, also as of 1 January 2015

Sulzemoos 19 December 2014 / Tim P. Ryan (56) has been appointed as a new
member of the Management Board and as the new Chief Executive Officer of
Phoenix Solar AG. The position of CFO has been entrusted to Manfred
Hochleitner (41), who was also appointed as a new member of the Management
Board. This was announced today by Phoenix Solar AG (ISIN DE000A0BVU93), an
international photovoltaic systems integrator listed in the Prime Standard
of the Frankfurt Stock Exchange. Both appointments will become effective on
1 January 2015.

Tim P. Ryan, originally from the USA, brings comprehensive experience in
growth oriented business development, sales management and leadership with
international businesses, in particular in the solar industry. Until 2011
he was a Senior Vice President with the former Q-Cells AG in Berlin,
responsible for both the Global Cell Segment as well as the Region Asia
Pacific. Prior to this, Tim P. Ryan was Region Head for Oerlikon Solar for
sales and service of complex thin-film production facilities in the Middle
East, India and Southeast Asia. He is an expert for the technical,
sales-related, commercial and financial aspects of large utility-scale as
well as commercial rooftop photovoltaic systems. This earned him operating
mandates in Asia for both Welspun Energy and the former REC Solar from
2012.

For approximately nine years he held managerial positions with Hilti AG,
last as an Executive Vice President, running the region Northern and
Eastern Europe. Tim P. Ryan's career started in the automotive sector in
the USA and Europe, where he worked for Goodyear and Porsche. He holds a
Master of International Business (MBA) degree from the University of South
Carolina.

Manfred Hochleitner served to date as Director Finance and Administration
for Phoenix Solar AG. Among other tasks, he was responsible for the
Controlling, Treasury, Group Accounting and Tax functions. In addition, he
played a significant role in securing the ongoing Group financing as well
as in realigning the Group strategy. He ran several restructuring projects
and established a group-wide reporting system. Prior to joining Phoenix
Solar AG, from 2006 until 2011, he was Managing Director, Financial