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Germany

Germany

Nordex reorganises board and strategy

GERMANY: Nordex CEO Jurgen Zeschky has taken over responsibility for operations as part of a reorganisation of the company's board.

 Nordex  CEO Jurgen Zeschky... aiming for EUR 1.5 billion sales
Nordex CEO Jurgen Zeschky... aiming for EUR 1.5 billion sales

From hereon the Nordex board will consist of Zeschky, chief financial officer Bernard Schaferbarthold and chief customer officer Lars Bondo Krogsgaard. Chief operating officer Marc Sielemann has left the company, with Zeschky taking over his responsibilities.

The move was announced alongside a new corporate strategy for Nordex. The manufacturer said it was planning to strengthen its turnkey management and supply more turnkey wind farms. It also plans to expand its servicing offer.

Krogsgaard said: "We are currently generating attractive margins in this segment in particular and are thus able to make an important contribution to improving our profitability."

Nordex said it was aiming to lower its costs by "a double-digit percentage". It said it would do this by bringing suppliers into the product development process. Zeschky said: "Over the next five years, we want to increase our annual sales to around EUR 1.5 billion and generate a margin of over 5%."

The company is also looking to add to its low wind range. Zeschky said: "The launch of the Nordex N117 marked the beginning of a new product cycle. This turbine is enjoying great success due to its efficiency in light wind locations. We must now increase product development speed."

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