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Denmark

Denmark

LM CEO Sundén to leave company

LM Wind Power has announced its CEO Roland Sundén is to leave the company.

LM said that Sundén, who had been with LM for six years, will be replaced on an interim basis by non-executive director Tim Robson.

The company did not say whether Sundén had a job to go to, or elaborate on the reason for his departure. It added that his replacement would be announced at a later date.

However the company has struggled with poor results in 2011. Earlier this month, LM announced a 41% fall in profits for the period and 180 job cuts to its North American operation.

The blade manufacturer also said sales had declined 2.7% to €705 million. It said the job cuts have been made as a result of falling orders.

The company's Spanish factory in Ponferrada was scaled down, while production at the Urumqi plant was stopped altogether.

Sundén is the second wind power CEO to suddenly depart his company this month. He follows Gamesa chairman Jorge Calvet who was sacked on 10 May.

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