Meyer Burger to Replace CEO as Solar Company Cuts More Jobs (1)

Meyer Burger Technology AG announced a deep restructuring plan and swapped out its top executives, in the latest attempt to return to profitability for the ailing Swiss solar panel maker.

Chief Executive Officer Gunter Erfurt and Chief Financial Officer Markus Nikles are leaving, the company said Wednesday, and some 200 jobs of its 1050-strong workforce will be cut. Erfurt will be replaced by Chairman Franz Richter and the management board will shrink to three members.

The company’s travails are emblematic of the wider state of the solar panel industry in Europe and the US, with the near hegemony of cheap ...