The longest-established solar company in Europe, AES Solar, has announced its founder George Goudsmit is stepping down as managing director.
Running of the business, which is based in Moray, Scotland, will be taken over by the existing senior leadership team as part of a management buyout which secures the company’s long-term future.
Goudsmit said: “When the business started in 1979 it was pioneering the manufacture of solar technology.
“I was convinced that solar was the logical solution to our energy needs and should be available to all at a reasonable cost.
“Four decades later, it is satisfying to see that vision become a reality.
“By focusing solely on solar panels, I grew the business and now our solar installations are on all kinds of buildings from off-grid remote cottages to landmarks like Edinburgh Castle.
“Interest in solar technology continues to grow and I look forward to watching the new management team take the company forward to the next chapter in renewable energy.”
82-year-old Goudsmit took on AES Solar when he moved to Scotland from London in 1989.
From a modest turnover of £30,000, the business now has a turnover of £10M, with significant growth occurring over the last three years.
Commercial director Jamie Di Sotto said: “The solar industry has seen many peaks and troughs over the years, so much so that the sector is known as the ‘solar coaster’, and to have steadily grown the business over that time is testament to George’s skill and dedicated belief in renewable energy.
“As a member of the management team who will take the business forward, I am looking forward to continued growth and exciting new projects.
“Although he is stepping back from day-to-day business, we are pleased that George will still be involved in AES Solar by remaining actively involved in the renewables industry and exploring innovation in this fast-moving sector.”
As well as Jamie Di Sotto, the other members involved in the management buy out are technical director Campbell MacLennan and finance director Lynn Davidson.