Vestas in turmoil - the stories
DENMARK: Over the last months, bad news has kept coming out of Vestas with headlines about profit warnings, operational issues, job losses, restructures and then more restructures. The issues started in November when Vestas announced a profit warning and revealed operational issues following a failure to bring its generator factory online for its latest Gridstreamer and V112 turbines. Since then it had lost two offshore chiefs, a CTO and a deputy CEO. While the chairman and deputy chairman will not seek relection at March's AGM.