SMA Solar CEO steps down\, to be replaced by deputy

SMA Solar CEO steps down, to be replaced by deputy

Reuters  |  FRANKFURT 

(Reuters) - Solar, Germany's largest group, on Monday named Juergen Reinert, deputy chief executive and board member for operations and technology, as its new CEO, replacing Pierre-Pascal Urbon, who is leaving after seven years at the helm.

The company, which last month cut its outlook for sales and profits, gave no reason for Urbon's resignation, only saying it took place at his own request.

Last week, shares in hit their lowest level since June 2015.

(Reporting by Christoph Steitz; Editing by Maria Sheahan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 15 2018. 17:51 IST