The Danish Wind Energy giant Vestas has parted company with its Chief
Executive Officer Ditlev Engel with immediate effect.
Engel has led Vestas since 2005 and has been instrumental in introducing the
company’s DKK 3 billion restructuring programme over the past 18 months.
Engel has been replaced by Anders Runevad, who goes to Vestas from the Swedish
telecommunications company Ericsson where he was President of Region West &
“Following the recent measures taken, it is now the appropriate time to make
this change. The company is now entering a new phase, where we want to
realise our growth potential, and I am confident that Mr Runevad has the
right experience to lead the company going forward,” says Vestas Board
Chairman Bert Nordberg.
“The restructuring programme has resulted in a more competitive company and we
thank Mr Engel for his leadership over the past eight years,” Nordberg
Runevad, who has now been appointed, has a long career behind him at Ericsson.
“I am delighted to be joining Vestas and look forward to leading the company
in its next phase of development. I believe that my career has equipped me
with the right tools to take on this task,” says Runevad.
The decision to change the company CEO at this time came as somewhat
“It is a surprise at this time, but he (Ed: Ditlev Engel) is handing over
Vestas in relatively good shape,” says Michael Friis Jørgensen, analyst at
Alm. Brand Markets.
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