Tim P. Ryan confirmed as Phoenix Solar CEO

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Tim P. Ryan confirmed as Phoenix Solar CEO

October 31, 2017 Anand Gupta

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• Tim P. Ryan’s tenure as Group CEO at Phoenix Solar extended for another year until December 31st, 2018
• Investments in the global sales team and process paying off –weighted project pipeline now at some 600 MWp and free order backlog at €225 million
• The Phoenix Solar Supervisory Board expresses confidence in growth potential for 2018

Sulzemoos, October 30th, 2017 / The Supervisory Board of Phoenix Solar AG, (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, has extended the appointment of Tim P. Ryan as Group CEO for another year. Ryan has served as CEO of Phoenix Solar AG since January 1st, 2015. In parallel, he remains in his role as CEO & President of the US subsidiary, the Company’s largest.

Ryan, who is also the Group’s Chief Sales Officer, has overseen systematic investments in the global sales team and process. Starting with the third quarter of the current financial year, 2017, the sales results have been moving in the right direction, with an unprecedented global project pipeline (weighted) of approximately 600 MWp and a free order backlog of €225 million.

Oliver Gosemann, Chairman of the Supervisory Board, said: “The recent revision of the 2017 guidance to a large degree reflects the inherent risks of the project business in which Phoenix Solar is active. By extending his contract, we express our confidence that Tim P. Ryan will continue to lead the Group to master the challenges ahead.