Eric Peugeot, chairman of the board of directors of Theolia, said “THEOLIA is very fortunate to have Marc continue to manage the Group during this critically important phase and beyond. The Board is confident that his leadership and experience offer the company the best chances for success in the future. I am grateful for what Marc has accomplished in the last six months as an interim CEO.”

Noordende added “I thank the Board members for their confidence in me as we continue our restructuring efforts in a difficult market environment. We have not yet resolved all of our short term issues but are working very hard to do so. Thereafter, I believe that THEOLIA will be able to thrive as it has a good starting position and a high quality pipeline in a number of large countries in a sector that continues to offer significant growth potential.”