Executive transition

DGAP-News: Senvion S.A. / Key word(s): Strategic Company Decision

23.05.2018 / 08:54
The issuer is solely responsible for the content of this announcement.



Executive transition

Senvion announces that Chief Executive Officer Jürgen Geißinger is stepping down with the Board's agreement. Over the last two plus years, Jürgen Geißinger has led the company during a challenging time for our sector, successfully transitioning Senvion into a global company with a robust product portfolio and strong cost discipline. The Board offers its thanks to Jürgen Geißinger for his valued contribution to the success of the business during his tenure.

Today's announcement comes as Senvion embarks on the next stage of its growth journey and international expansion. During his tenure, Jürgen Geißinger has been successful in driving cost discipline post-IPO, driving new product development, expanding Senvion's footprint and guiding it into new international markets. The successor to Jürgen Geißinger will be able to build on this strong platform with the current growth momentum supported by our exciting product upgrades.

An orderly search for Jürgen Geißinger 's successor, led by Chairman Steven Holliday, is well underway. During the interim period, Kumar Manav Sharma - Chief Financial Officer of Senvion - has been appointed acting Chief Executive Officer and David Hardy - Chief Sales Officer - has been appointed as Executive Director of Senvion. Kumar Manav Sharma and David Hardy both have extensive senior management experience and along with a strong Executive team, will lead the company until a successor is appointed. They will be supported by the Board members and an experienced management team with a deep understanding of the business. There will be no change to the day-to-day operations of the business.

Steven Holliday, Chairman of Senvion, said:
"On behalf of the Board, I should like to thank Jürgen Geißinger for his significant contribution to Senvion. During his time as Chief Executive he has been instrumental in taking the business through the first phase of our international growth plans, against the backdrop of a challenging industry environment. The Board and Jürgen Geißinger agree that Senvion will benefit from the platform we have built to drive the Company's future success. Jürgen Geißinger leaves the business with our best wishes and I am sure that he will be a success in whatever he decides to do next."

Jürgen Geißinger, Chief Executive Officer, said:
"I am honoured to have been part of Senvion's success over the last two years. It has been a privilege to lead this great business into a number of markets and product areas. Our strong current order book and consistent pipeline growth is a reflection of a proven strategy. I would like to thank all colleagues for their continued commitment and dedication to the business."

About Senvion:
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.33 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The Senvion systems are mainly designed in the major TechCenters in Osterrönfeld and Bangalore and manufactured at its German and Portuguese plants in Bremerhaven, Vagos and Oliveira de Frades as well as in Żory-Warszowice, Poland and Baramati, India. With approximately 4,500 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 7,500 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia, Japan, India, Chile and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.

 

Senvion Press contacts:
Immo von Fallois
phone: +49 40 5555 090 3770
mobile: +49 172 6298 408
email: immo.von.fallois@senvion.com
 
 

Senvion Investor Relations contact:
Dhaval Vakil
phone: +44 20 3859 3664
mobile: +44 7788 390 185
email: dhaval.vakil@senvion.com




 


23.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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