Vestas plummets on losses and changes

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Investors woke this morning to the news from Vestas that senior board members would not be continuing after the next Annual General Meeting (AGM), that the company CFO has been let go and company accounts for 2011 showed a pre-tax loss of DKK 1.1 billion.

By 10.a.m Vestas stock had plummeted some 13.5 per cent, shaving over DKK 1.5 billion off the company’s value. The stock recoverd slightly around 1 p.m. but was still some 13 per cent down.

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