In its first meeting the Board of Directors of the combined company Siemens Gamesa Renewable Energy made various decisions concerning its future. Ignacio Martín, former Executive Chairman of Gamesa, will continue as CEO of the combined company for the transition phase before he will hand over to the next management generation. The Board also agreed on the new company name, albeit the name has to be approved at the Annual General Meeting in June.
“Siemens Gamesa Renewable Energy's future could not be in better hands, as it is equipped with a top-notch executive team and workforce which will shape the renewable energy industry of tomorrow. My responsibility during this next stage is to ensure the success of the natural succession process”, said Mr. Martín.
In the Board of Directors meeting, Andrew Hall, formerly CFO of Siemens Wind Power, has been appointed the CFO of the merged company. Xabier Etxeberria, formerly Business CEO at Gamesa, will head its Onshore business, Markus Tacke, previously CEO of Siemens Wind Power, will head the united company’s Offshore business, and Mark Albenze, who was the CEO of Wind Service at Siemens Wind Power, will head the combined Service business. David Mesonero will be the Chief Integration Officer in addition to his current responsibilities as Head of Corporate Development. Rosa Garcia, CEO for Siemens in Spain, has been appointed non-executive Chairwoman of the Board.
The members of the Board of Directors also confirmed the new company brand and agreed on the new company name – Siemens Gamesa Renewable Energy - to be submitted for approval at the Annual General Shareholders Meeting taking place in June. Until then, the company will use the new brand but will continue to operate under the legal entity name Gamesa Corporación Tecnológica.
The merged company will remain listed on the Spanish stock exchange. Legal domicile and global headquarters of the company will be in Zamudio (Spain). The Onshore headquarters will be also located in Zamudio, while the Offshore headquarters will be located in Hamburg (Germany) and Vejle (Denmark).
After the first meeting, Siemens Gamesa Renewable Energy announced, that it will immediately focus on generating value creation for its stakeholders as a result of their combined strength.
In total, the merged company has close to 27,000 employees. Products and technology are installed in more than 90 countries. The united company has combined annual revenue of €11 billion, an order backlog of €21 billion and a global installed capacity of 75 GW.
The registration of the merger in the Mercantile Registry of Biscay took place on April 3, 2017.
Siemens Gamesa Renewable Energy / Philipp Kronsbein