Kuhn resigns from Solar Millennium’s supervisory board

Sep 26, 2011 - German solar energy company Solar Millennium (ETR:S2M) announced today its founder Hannes Kuhn leaves the company’s supervisory board with immediate effect.

The reason for Kuhn’s resignation is that the media campaign directed against him has a negative effect on the company and his private life, Kuhn said in a personal statement.

The media's reaction came after in August a prosecutor in Dusseldorf accused Kuhn and another two supervisory board members of an accounting fraud as it was reported at the time by daily Financial Times Deutschland.

Ex-CEO Utz Claassen also raised claims that the supervisory board deceived him in connection with Solar Millennium’s business plan, daily Handelsblatt said in August.

Yesterday in his statement Kuhn described all accusations against him as groundless.

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