The shareholders of centrotherm photovoltaics AG approved with a clear vote the management's corporate strategy at the Ordinary Shareholders' General Meeting held on June 22. Shareholders voted in favor of all agenda items with a large majority of the approximately 200 shareholders present. The Management and Supervisory boards of the technology and equipment provider for the manufacturing of solar silicon, crystalline solar cells and modules as well as CIGS thin film modules were discharged with respect to the 2009 financial year with a vote in excess of 99 percent. centrotherm photovoltaics aims to sustainably reduce production costs for solar silicon, solar cells and thin film modules with pioneering developments that benefit its customers. The company is simultaneously further expanding its market share in countries such as Qatar, India and the USA, and also intends to launch new products. This was emphasized to shareholders by CEO, Robert M. Hartung, on Tuesday at the Shareholders' General Meeting in Neu-Ulm. He went on to note that, besides technology leadership and extensive customer service, it was particularly employees who represented a decisive success factor. "We wish to honor their input, and ensure that they remain loyal to us over the long term," Mr. Hartung commented. As a consequence, shareholders voted by a large majority to introduce the "centrotherm photovoltaics AG Stock Option Plan 2010" to issue share subscription rights to managers and other staff members of centrotherm photovoltaics AG and its Group companies. The share-based remuneration is primarily intended to help staff members to identify with the company and its objectives, and to think and act entrepreneurially. The majority of shareholders commented positively on the company's sustained development in challenging times, and, besides thanking the Management and Supervisory board, also expressly thanked staff members.
With regard to operational aspects, the company is on a very good path. centrotherm photovoltaics reduced materials and production costs last year, and optimized purchasing terms. At the same time, however, the company has pushed forward into projects of new dimensions, such as the industrial entry of the world's largest shipbuilder, Hyundai Heavy Industries, into the photovoltaics market. "The company is now harvesting the fruits of its strategic and operational positioning," CFO Oliver M. Albrecht went on to add.
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