wind turbine builder
Siemens Gamesa boss has to go – Eickholt is his successor
The wind power subsidiary Siemens-Gamesa replaces its CEO. Photo: Patrick Pleul/dpa-Zentralbild/dpa
© dpa-infocom GmbH
The problems at the wind power company Siemens Gamesa do not stop and also burden the majority owner Siemens Energy. Now the wheel keeps turning and Jochen Eickholt comes on for Andreas Nauen.
The problems at the Spanish wind turbine manufacturer Siemens Gamesa lead to a change at the top of the company.
The previous CEO Andreas Nauen has to go and will be replaced on March 1 by Jochen Eickholt, who sits on the board of parent company Siemens Energy. This was announced by Siemens Gamesa and Siemens Energy in Zamudio, Spain, and in Munich. The 60-year-old Eickholt will leave the Siemens Energy Management Board on February 28. Siemens Energy holds 67 percent of Gamesa.
After the business outlook had been lowered again, there had already been speculation about a change at Siemens Gamesa. The company had reduced guidance due to supply chain issues, skyrocketing costs, project delays and shortcomings with its new land turbine. The wind turbine manufacturer had already reduced its expectations considerably last summer.
Siemens subsidiary makes losses
The difficulties burdened the operating result of Siemens Gamesa in the first quarter ended December 31 with a total of 289 million euros, as the group had recently announced. As a result, according to preliminary calculations, the company slipped back into the red in adjusted earnings before interest and taxes (EBIT).
Gamesa boss Nauen had therefore announced further measures to stabilize the business with wind turbines on land. The group is currently urging customers to adjust their contracts in order to absorb the high costs – and thus price increases. One problem here are those contracts that guarantee projects at a fixed price. The offshore wind turbine business is also struggling with bottlenecks in the supply chain, but like the service business continues to make positive contributions.
There has long been speculation on the market as to whether Siemens Energy will take over the Spanish subsidiary completely in order to take better action and thus be able to restructure it more quickly.