Vestas profits down, chairman resigns

| Print |  Email
Must Reads
Wednesday, February 08, 2012

Vestas Wind Systems 2011 profits were well below expectations, prompting its chairman to announce his resignation.

Bent Erik Carlsen said Wednesday in a live television interview that investors wanted change, forcing him and Deputy Chairman Torsten Erik Rasmussen to decline a re-election bid at next month's shareholder meeting.
The pair have been criticized for poor financials and a loss of market share to Chinese competitors. Last month, the company announced it would lay off 2,335 people and it has already slashed its 2012 earnings forecasts twice. The layoffs include cuts in the United States, with some possible at the company's U.S. headquarters in Portland.
The chairman's departure comes a day after CFO Henrik Noerremark resigned. Another board member, Freddy Frandsen, will also forego re-election, though the company gave no reason for his departure.

Read more at KGW.

{biztweet}vestas{/biztweet}

 

More Articles

Legislative Preview: A Shifting Balance

January-Powerbook 2015
Thursday, December 11, 2014
BY APRIL STREETER

Democratic gains pave the way for a revival of environment and labor bills as revenue reform languishes.


Read more...

Dan and Louis Oyster Bar opens up to a changing neighborhood

The Latest
Thursday, December 11, 2014
121114-oystervidBy MEGHAN NOLT

VIDEO: Revamping a Classic — an iconic eatery stays relevant in a changing marketplace.


Read more...

The Human Factor

February 2015
Monday, January 26, 2015
BY BRIAN LIBBY

Matt French opens up South Waterfront.


Read more...

Top stories in 2014

The Latest
Thursday, December 18, 2014
10-listthumb

2014 was a year of wild contradictions, fast-paced growth and unexpected revelations.


Read more...

Transportation Fairness Alliance holds demonstration in Pioneer Square

The Latest
Wednesday, January 14, 2015
IMG 3367BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Portland's cab companies urged city hall for consideration as officials weigh new rules for Uber and other ridesharing companies.


Read more...

Communications error

News
Friday, January 30, 2015
013015-zidellmattfrench-thumbBY LINDA BAKER | OB EDITOR

How did an errant email to the Zidell family end up fronting a story in the Oregonian this morning?


Read more...

Playoffs pay off for the Ducks

The Latest
Friday, January 02, 2015
oregon-ducks-logo-helmet-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

The University of Oregon football team looked unstoppable on the field Jan. 1 — and the university is reaping the benefits of the new postseason format.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS