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Germany

Germany

Senvion CFO resigns

GERMANY: Senvion's chief financial officer Marcus Wassenberg has resigned from the board and will leave the company.

Wassenberg is leaving the wind industry
Wassenberg is leaving the wind industry

Wassenberg has been CFO of the German turbine manufacturer since June 2012. According to a company statement, Wassenberg is leaving "at his own request" and is taking a role at another firm outside of the industry.

The company's chief executive Andreas Nauen will fill in the role until a successor is found.

Chairman of parent company Suzlon, Tulsi Tanti, thanked Wassenberg for his services to Senvion since joining the firm in 2009.

In his time as CFO, Wassenberg oversaw the successful financing extension with a banking consortium to increase Senvion's working capital to EUR 850 million.

Earlier this month, Tanti told UK newspaper, the Financial Times, of plans to list its German subsidiary on the London Stock Exchange. Tanti hoped to raise $600 million by listing a minimum of 25% of the company on the market. The move is seen as a way of helping to pay off Suzlon's debts.

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