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Blade manufacturer's CEO and president loses half his title

TPI Composite's largest factory, which manufactures wind turbine blades for Vestas' model V136, is expected to produce 40 percent fewer blades than what was planned prior to February's strikes. TPI puts a figure on Vestas' compensation.

Steve Lockard has until now served as both CEO and president of TPI composites. He will now have to cut the twin title in half. | Photo: TPI Composites

Results characterized as both disappointing and extraordinary are seldom not also described as surprising. However, that TPI exits this year's first quarter with a deficit of USD 11.7 million was already announced in connection with an annual guidance downgrade one week ago.

Regarding that prognosis, the interim report shows that both the result and realized revenue total to USD 300 million.

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