Siemens Gamesa Appoints New CEO

Siemens Gamesa Renewable Energy has appointed Jochen Eickholt, a member of the executive board at Siemens Energy, as its Chief Executive Officer (CEO).

Eickholt will take the reins at Siemens Gamesa on March 1, replacing Andreas Nauen.

Siemens Gamesa ended the first quarter of the Fiscal Year 2022 with a EUR 309 million loss. The company’s results were negatively impacted by supply chain-related disruptions, the Covid-19 pandemic, and the ramp-up challenges of the Siemens Gamesa 5.X onshore platform.

”Siemens Gamesa is experiencing significant challenges in its Onshore business in a very difficult market and we have appointed an executive with a strong track record in managing complex operational situations and in successfully turning around underperforming businesses,” said Miguel Angel López, Chairman of the Board of Directors of Siemens Gamesa.

”The Board would like to thank Andreas for his considerable efforts as CEO as well as for his previous leadership of the Offshore business, which continues to lead the global market.”

Eickholt joined the Siemens Energy executive board in January 2020 where he is responsible for the Power Generation and Industrial Applications businesses as well Asia-Pacific and China.

During a career with Siemens spanning more than 20 years, Eickholt has held a number of senior management positions including Chief Executive Officer of Siemens Mobility, and Chairman and Managing Partner of the Siemens Portfolio Companies.

Despite the current challenges, the company’s Board of Directors said it remained convinced by the long-term prospects and value creation potential of Siemens Gamesa.

”With an order backlog of more than €33bn, leadership in the growing Offshore market and a strong Service business the company is well positioned for future success. The priority remains to turnaround the Onshore unit,” Siemens Gamesa said.