Sunways board shrinks as CFO steps down

After three years, Bernd Fessler, CFO of the German solar cell and inverter manufacturer Sunways AG, leaves the company on Dec. 31. 

© Sunways AG Photovoltaics Leaving: Sunways CFO Bernd Fessler quits his job on Dec. 31, 2003.

»There were differences of opinion between the supervisory board and Bernd Fessler with respect to the company's further strategic development and the details of the expansion of its distribution activities,« Sunways reported in an ad hoc release on Dec. 10, 2003. 

Fessler, a 36-year-old economist, who was instrumental in Sunways' IPO in Feb. 2001, told PHOTON International he will work as an advisor to the company »at least for the first quarter of 2004.« Like Franz Heim, who resigned as chairman of the board on March 31, 2002 (see PI 5/2002, p. 44), Fessler will remain shareholder. As of Sept. 30, 2003, he holds 26,000 of the company's 9.5 million shares. Fessler has no new job yet, nor has Sunways appointed a successor. For the interim, Roland Burkhardt will be the only chairman of the board, while Sunways controller Martin Kitt takes care for financing and accounting. 

Iris Krampitz
© PHOTON International, January 2004