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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs