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CEO Eickholt to leave troubled turbine-maker Siemens Gamesa

Riviera|David Foxwell|May 8, 2024
GermanyGeneral

Another chief executive is set to depart wind turbine manufacturer Siemens Gamesa Renewable Energy as the company launches the next phase of restructuring and integration into Siemens Energy ...Mr Eickholt was appointed in February 2022, replacing Andreas Nauen, who was appointed chief executive only 18 months before that.


Another chief executive is set to depart wind turbine manufacturer Siemens Gamesa Renewable Energy as the company launches the next phase of restructuring and integration into Siemens Energy

Chief executive Jochen Eickholt has informed the board of the company that he will step down on 31 July 2024 and leave the company on 30 September. He will be replaced by Vinod Philip on 1 August 2024.

Mr Philip is currently head of global functions (including IT, purchasing, innovation, logistics and project management).

Mr Eickholt was appointed in February 2022, replacing Andreas Nauen, who was appointed chief executive only 18 months before that. Under Mr Philip’s leadership, the wind power division of Siemens will be integrated into the Group’s …

... more [truncated due to possible copyright]

Another chief executive is set to depart wind turbine manufacturer Siemens Gamesa Renewable Energy as the company launches the next phase of restructuring and integration into Siemens Energy

Chief executive Jochen Eickholt has informed the board of the company that he will step down on 31 July 2024 and leave the company on 30 September. He will be replaced by Vinod Philip on 1 August 2024.

Mr Philip is currently head of global functions (including IT, purchasing, innovation, logistics and project management).

Mr Eickholt was appointed in February 2022, replacing Andreas Nauen, who was appointed chief executive only 18 months before that. Under Mr Philip’s leadership, the wind power division of Siemens will be integrated into the Group’s management structure. Mr Eickholt will continue to oversee the orderly and smooth handover during the transition period. 

Siemens Energy chief executive Christian Bruch said he wanted to thank Mr Eickholt “personally and on behalf of Siemens Energy” for his commitment what he described as “turbulent times.” He noted it was “only fair to emphasise that the causes of the problems at the company did not start with his tenure as CEO.” He said that with the implementation of a multi-year restructuring plan agreed by the company, the time had also come for a generational change at Siemens Gamesa. 

Under the ongoing restructuring at the company, Siemens Gamesa will focus primarily on markets that offer a stable regulatory framework and in which it can optimally and profitably meet the needs of its customers with its product ranges. These are the European domestic market and the US. Other local markets will only be served in new business if this makes economic sense in the respective case. Production capacities in the onshore area will be adapted to this new orientation. The company said the most important task in the offshore area is the ramp-up of capacity at sites in Cuxhaven, Aalborg and Le Havre.

For the second quarter in its financial year, Siemens Gamesa reported a €365M loss. This compared to a loss of €386M loss in the same period last year. The company reported a significant decline in orders, mainly as a result of a temporary interruption of sales for its onshore turbines and an absence of large orders in the offshore sector.


Source:https://www.rivieramm.com/new…

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