It seems all is not so rosy in the windpower realm these days. Vestas, one of the major players in wind power generation systems, has issued its second profit warning in 3 months. Yet again it is shown that without massive taxpayer support wind power is a loser. Well, it's a loser no matter what, it just takes taxpayer dollars to keep the companies going for more then 9 months.
Vestas CFO resigns over recent profit warnings
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COPENHAGEN | Tue Feb 7, 2012 9:44pm EST
COPENHAGEN (Reuters) - Danish wind turbine manufacturer Vestas said late on Tuesday that its chief financial officer, Henrik Norremark, resigned after explaining to the board conditions leading to recent profit warnings.
In early January, Vestas issued its second profit warning in just three months, saying that cost overruns and delayed revenues had wiped out 2011 profits.
The announcement that Norremark, who was also deputy CEO and designated last month to become chief operating officer, had quit came on the eve of Vestas' fourth-quarter report.
In its brief statement, Vestas Wind Systems A/S did not designate a successor to Norremark.
(Reporting by John Acher)
Vestas CFO resigns over recent profit warnings | Reuters
Vestas CFO resigns over recent profit warnings
inShare0Share this
Related NewsEurope's debt woes end golden days at Siemens
Tue, Jan 24 2012
UPDATE 3-Vestas cuts over 2,000 jobs after profit evaporates
Thu, Jan 12 2012Related TopicsEnvironment »
COPENHAGEN | Tue Feb 7, 2012 9:44pm EST
COPENHAGEN (Reuters) - Danish wind turbine manufacturer Vestas said late on Tuesday that its chief financial officer, Henrik Norremark, resigned after explaining to the board conditions leading to recent profit warnings.
In early January, Vestas issued its second profit warning in just three months, saying that cost overruns and delayed revenues had wiped out 2011 profits.
The announcement that Norremark, who was also deputy CEO and designated last month to become chief operating officer, had quit came on the eve of Vestas' fourth-quarter report.
In its brief statement, Vestas Wind Systems A/S did not designate a successor to Norremark.
(Reporting by John Acher)
Vestas CFO resigns over recent profit warnings | Reuters