Gamesa CEO Jorge Calvet Steps Down Shares Tumble 89%
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Gamesa Corp. Tecnologica SA, Spain’s biggest maker of wind turbines, replaced Chief Executive Officer Jorge Calvet after the company’s market value plunged 89 percent during his 31-month tenure.
Gamesa named as his replacement Ignacio Martin, a former CEO of the Spanish supplier of automobile components Cie Automotive SA, according to a statement yesterday. Calvet is leaving the company. Gamesa rose 2.9 percent to 1.639 euros at the close in Madrid today.