In addition Andreas Hänel, aco-founder of the Bavaria-based company and its chief executive since 2000, hasresigned effective 28 February.

Bernd Köhler, who has servedas chief financial officer since January 2012, will take over as both CEO andCFO.

Phoenix’s core business issplit into two spheres – Components & Systems, essentially a wholesaler ofPV kit sourced from around the world, and Power Plants, which develops, buildsand operates large PV arrays.