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Struggling wind turbine maker Siemens Gamesa on Wednesday named a new chief executive for the second time in less than two years, more than 10 days after issuing the latest in a series of profit... | February 3, 2022
Read Wind turbine maker Siemens Gamesa's CEO: ‘Cost inflation to last into 2023' and other wind energy news & analysis on Windpower Monthly
The wind turbine maker has ousted its second CEO in two years. As another German, Jochen Eickholt may get a frosty reception from Spanish bits of the firm. Parent Siemens Energy won’t mind. The longer Gamesa’s woes drag on, the easier it will be to buy out minority investors.
Siemens Gamesa has cut its guidance for the coming year after a turbulent period that has seen its market capitalization nearly halve.
Siemens Gamesa Renewable Energy SA replaced its chief executive officer after project delays and cost overruns led to profit warnings at the subsidiary of Siemens Energy AG. Jochen Eickholt, a Siemens Energy executive board member, will succeed Andreas Nauen as CEO on March 1. Eickholt, 60, has a track record of restructuring struggling businesses and will be charged with fixing the issues that have plagued Siemens Gamesa. “His proven ability to turn around underperforming businesses and his vast leadership experience will be key elements to successfully implement the necessary changes and i...