Siemens Gamesa Renewable Energy has appointed Jochen Eickholt, a member of the executive board at Siemens Energy as its Chief Executive Officer. Eickholt will take the reins at Siemens Gamesa on March 1, replacing Andreas Nauen.
“Siemens Gamesa is experiencing significant challenges in its Onshore business in a difficult market and we have appointed an executive with a strong track record in managing complex operational situations and in turning around underperforming businesses,” said Miguel Angel Lopez, Chairman of the Board of Directors of Siemens Gamesa.
“The Board would like to thank Andreas for his considerable efforts as CEO as well as for his previous leadership of the Offshore business, which continues to lead the global market.”
Jochen Eickholt joined the Siemens Energy executive board in January 2020 where he is responsible for the Power Generation and Industrial Applications businesses as well Asia-Pacific and China. During a career with Siemens spanning more than 20 years Eickholt has held a number of senior management positions including Chief Executive Officer of Siemens Mobility and Chairman and Managing Partner of the Siemens Portfolio Companies.
He studied electrical engineering at the RWTH Aachen in Germany and at the Imperial College of Science, Technology and Medicine in London. After receiving his engineering degree, he went on to earn his doctorate at the Fraunhofer Institute for Production Technology.
Siemens Gamesa reported revenue of €1.829 billion (–20.3 percent) and EBIT pre PPA and before integration and restructuring (I&R) costs to —€309 million, with an EBIT margin of –16.9 percent between October and December.
The wind turbine maker said business performance was impacted by supply chain disruptions in manufacturing and by project execution and Onshore ramp-up challenges. Service performance was strong, with revenues up 8 percent and an EBIT margin of 23.5 percent.