Hamburg: Pieter Wasmuth (age 43) will terminate his employment with REpower Systems AG and resign as a member of the management board of the company in mutual amicable agreement as per 31 August 2009.
The term of his service contract was regularly to expire at the end of November 2009 but both parties have mutually agreed on a termination as per 31 August 2009.
As CFO of REpower Systems AG, Pieter Wasmuth has successfully accompanied three capital increases and only recently successfully negotiated a Syndicated Financing Facility Agreement. During his time in office, in four and a half years, the company successfully continued its international growth and Mr. Wasmuth played an important role in the setup of its joint venture activities in Portugal and China as well as the establishing of subsidiaries in Spain, Italy, France and other countries.
Mr. Tulsi R. Tanti, Chairman of the Supervisory Board of REpower Systems AG, said: “On behalf of the entire supervisory board I thank Mr. Wasmuth for his successful commitment. I acknowledge him as a very entrepreneurial person with an excellent finance background and an outstanding business sense, and wish him all the best for the future. “