Siemens Energy shakes up troubled wind unit after strong results

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Siemens Energy unveiled sweeping changes at its struggling wind division on Wednesday, including job cuts and a new CEO, tightening its grip on a loss-making business as the provider of power equipment emerges from its biggest crisis to date.

An offshore wind turbine of the Siemens Gamesa company is seen from the Telde coast on the island of Gran Canaria, Spain, May 2, 2022. REUTERS/Borja SuarezNow expects 2024 sales to grow by 10-12%FRANKFURT/DUESSELDORF, May 8 -

As part of the changes, which will include unspecified job and capacity cuts, board member Vinod Philip will become the new CEO of wind turbine unit Siemens Gamesa from August, the group said, adding it was time for a generational change. Siemens Energy said it would resume sales of revised versions of its 4.X turbines in Europe by the end of September, adding the 5.X platform was expected to re-enter the market next year. Both models are currently not being sold.

 

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