Siemens Energy shakes up troubled wind unit

The announcement, which was flanked by a raised full-year outlook and a fourfold increase in quarterly operating profit, caused shares in the former Siemens division to soar 11.5% to the top of Germany's blue-chip index.

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. "It is only fair to emphasize that the causes of the quality problems did not fall under his tenure as CEO," Bruch said of Eickholt, adding Philip, 50, was an"excellent and highly esteemed manager".

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