Home Must Reads Vestas profits down, chairman resigns

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

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...

Downtime

September 2014
Wednesday, August 27, 2014
BY JESSICA RIDGWAY

How State Representative Julie Parrish (House District 37) balances life between work and play.


Read more...

The Alchemist

September 2014
Tuesday, August 26, 2014
BY LINDA BAKER

David Howitt explains why Portland consumer brands like Stumptown and Voodoo Doughnuts are taking the world by storm.


Read more...

College Hacker

September 2014
Wednesday, August 27, 2014
BY KLINT FINLEY

Treehouse CEO Ryan Carson builds a 21st-century trade school.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

Poll Wrap-Up

News
Friday, August 15, 2014

2014 NewPoll-report-newsletterthumbIn this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.


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