More trials and tribulations at struggling Q-Cells have resulted in the resignation of its CFO, who has barely been in the job for 18 months since her appointment in April 2010. Effective today, coinciding with the release of the company's third-quarter results, Marion Helmes's position will be taken by CEO Nedim Cen, former holder of the CFO role, but who was appointed CEO to support initial restructuring efforts that led to a complete management change. Cen remains as CEO, while Andreas von Zitzewitz will take on the position of CSO in addition to his role as COO, resulting in an executive board of just two members.
“In the current situation, Nedim Cen, with his in-depth knowledge of restructuring processes, will take over the task of providing a solid medium-term financial basis for the company, pushing these activities forward in his double role as CEO and CFO,” commented Karlheinz Hornung, chairman of the supervisory board, on the re-allocation of responsibilities on the executive board. “Andreas von Zitzewitz will take on the position of CSO in addition to his role as COO. With this streamlined management organisation, the company is set up to operate effectively.”
In a statement, Q-Cells said that it regretted Helmes's resignation, citing her contributions in development of the company's financial organisation since joining the company.