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CFO of Denmark's Vestas Wind Systems resigns
Posted: Feb 7, 2012 7:29 PM by Juice Godfrey
DENVER (AP) - Tough economic times are causing a shake up at Vestas Wind Systems. The chief financial officer of Vestas has announced he is resigning. The company said in a brief written statement that the board received a briefing Tuesday about the conditions that have led to recent profit warnings, and as a result, CFO Henrik Noerremark is resigning. He had joined the company's executive management in March 2004. Vestas has been dealing with tough competition from Chinese competitors and fallout from a global recession that slowed investments in wind power. The company has invested more than $1 billion in four facilities in Colorado, including Pueblo. Its U.S. operations are headquartered in Portland, Ore. The Danish turbine maker said in January that it would lay off 2,335 people worldwide and 1,600 U.S. jobs could be at risk if Congress doesn't extend tax breaks for renewable energy.
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