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Siemens Gamesa replaces CEO after three profit warnings -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Model of a turbine in Zamudio (Spain), June 20, 2017, with the Siemens Gamesa Logo. REUTERS/Vincent West/File Photograph

MADRID, Reuters – Siemens Gamesa, a struggling wind turbine manufacturer, announced Wednesday that Jochen Eickholt would replace Andreas Nauen, the Chief Executive Officer. This comes nearly two weeks after it issued its third profit warning within nine months.

Miguel Angel Lopez, Chairman of Siemens Gamesa said that Siemens Gamesa was facing significant difficulties in its offshore business.

Lopez said, “We have hired an executive who has a solid track record of managing difficult operational situations and successfully turning around businesses that are underperforming.”

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