The Supervisory Board of REpower Systems AG decided on a reduction of their Management Board from five members to three as part of their REact restructuring programme at an extraordinary meeting on 6 April 2005. The Supervisory Board had already approved a restructuring plan devised by a business consultancy at their meeting of 16 March 2005. The tasks of the Management Board will thus in future be carried out by Prof Dr Vahrenholt as Chairman of the Board (CEO), Pieter Wasmuth as Finance Manager (CFO) and Matthias Schubert as Manager of Operating Business (COO).
With the streamlining of the Management Board from five members to three, an important module of the restructuring of REpower Systems AG is being realised. Prof Dr Fritz Vahrenholt remains Chairman of the Board, and in addition will be looking after the future joint venture with the new major Portuguese shareholder Martifer SA, as general coordinator. The former board members Thomas Franck (Sales) and Olaf Struck (Procurement, Production and Service) are retiring from the Management Board.
