Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Solar Millennium Chairman Withag to Resign Following Insolvency

March 5 (Bloomberg) -- Solar Millennium AG, the insolvent German solar developer that’s seeking a buyer, said today its chairman will resign.

Dr. Jan Withag will step down March 8, Erlangen, Germany-based Solar Millennium said today in a statement. He’s also leaving the board of the company’s Solar Trust of America and its Flagsol units.

Insolvency proceedings began last week and the disposition of the company is now largely managed by a court-appointed administrator, Withag said in the statement.

“The opportunities for action left to me are limited,” he said.

The company is seeking investors or a buyer. The insolvency administrator said Feb. 28 that some of the company’s power projects may be acquired, and the chances of the entire company being purchased “are highly uncertain.”

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.