Vestas flying high with investors

August 22nd, 2013

This article is more than 10 years old.

Wind turbine maker Vestas appears to be back in investors’ good graces after the company fired chief executive Ditlev Engel yesterday. The company, which is still seeking to regain its footing after a sharp decline in business during the recession, saw its shares rise by over five percent on news of the change. Analysts and institutional investors said they were satisfied that Anders Runevad would take over at the helm, and that his focus, according to chairman Bert Nordberg, would be on helping distance Vestas from its main rival, GE. Both companies have a 20 percent market share. When Engel became chief executive in 2005, Vestas had a market share of 35 percent. – Børsen


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