Vestas Replaces CEO With Runevad as Losses Widen
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Vestas Wind Systems A/S, the Danish turbine maker that’s been unprofitable for two years, replaced its chief executive officer after a worse-than-expected loss.
Anders Runevad, from Ericsson AB, will take over on Sept. 1 from Ditlev Engel, who has been at Vestas since 2005, the turbine maker said. Its two-year turnaround program “continues according to plan” even as second-quarter margins narrowed. Vestas rose the most in three months in Copenhagen trading.