TOP STORIES

Eickholt to step down as Siemens Gamesa CEO in August

RICHARD HEAP

May 8, 2024

Siemens Energy has announced that Jochen Eickholt is set to step down as chief executive of its subsidiary Siemens Gamesa in August and leave the company a month later.

The manufacturer has said that Eickholt will hand over the chief executive role to Vinod Philip, who is currently a member of Siemens Energy’s executive board and was previously its chief technology and strategy officer. Siemens Energy reported the management changes today as it revealed its second-quarter results for its 2024 financial year.

Siemens Gamesa saw a 76% fall year-on-year in its second quarter orders to €881m in 2024, which it said was expected due to its strong €3.6bn of orders in the second quarter of 2023.

Onshore orders are still impacted by the interruption in sales for its 4.X and 5.X, where the company has been seeking to address quality control issues, and the lack of large offshore turbine and servicing deals. However, it also reported second-quarter revenues of €2.3bn in 2024, down 4.6% year-on-year, and a loss of €365m was still an improvement of 5.5% year-on-year.

The company also revealed the wind division’s strategic focus for the years ahead. Siemens Gamesa’s onshore business is set to mainly focus on markets with a stable regulatory framework where the company can meet the needs of its customers while being profitable, particularly in Europe and the US.

In offshore wind, it said its priority is to increase its production capacity, on top of its current operations in Aalborg (Denmark), Cuxhaven (Germany) and Le Havre (France).

Read more