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Germany's Senvion appoints former Schaeffler head as new CEO

Senvion's 3.4M104 turbine. Source: Senvion SE 2014. License: All rights reserved.

December 18 (SeeNews) - German on- and-offshore wind turbines maker Senvion announced Thursday it has appointed Juergen Geissinger as its new chief executive officer with immediate effect, replacing Andreas Nauen.

Geissinger is a former CEO of local automotive parts maker Schaeffler AG, having spent 15 years at the helm of the company.

“We believe that his [Geissinger’s] experience combined with his passion for technology will help ensure that Senvion continues to be an innovation leader and will expand its presence in our existing and several new markets,” commented Stefan Kowski, chairman of the supervisory board at Senvion.

According to an unnamed person quoted by Reuters, Geissinger will take a stake of an unknown size in Senvion. The company is currently owned by investment firms Centerbridge Partners and Arpwood Partners after they bought it from India’s Suzlon in early 2015. Centerbridge is now considering options, including possible capital market transactions, for Senvion within the next years, the latter said.

Meanwhile, former CEO Nauen will continue to support the company as a member of the advisory board.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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