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Nordex searches for new CEO

GERMANY: Nordex has announced its CEO Thomas Richterich will be leaving the company when his contract expires next year.

Nordex CEO Thomas Richterich is set to leave the company in June 2012
Nordex CEO Thomas Richterich is set to leave the company in June 2012

Richterich, who has been with Nordex for nine years, said he was leaving the company for "personal reasons". His contract is set to end on 30 June 2012.

Nordex said the search for his successor was currently underway.

Nordex's Q1 revenues were €183 million, up 22% year on year. However, the German firm was not able to translate encouraging sales figures into bottom-line profitability. It posted a Q1 net loss of €1.8 million, compared to a flat performance for Q1 2010.

Richterich's departure preceded the company's win of the 52.5MW order from Norwegian utility Statkraft for the Baillie wind project in northern Scotland.

The project will use N100 turbines.

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