Siemens Energy Overhauls Leadership and Strategy in Bid to Revive Wind Power Division

The German firm announces significant job cuts and a leadership change at its Gamesa unit amidst ongoing financial struggles and technical setbacks.

Siemens Energy AG targets a turnaround with job reductions and a strategic withdrawal from certain markets to stabilize its wind turbine business.
Vinod Philip appointed as new CEO of Gamesa, marking the fourth leadership change since 2017, as part of broader restructuring efforts.
Company reports modest fiscal second quarter earnings and raises revenue growth forecasts amid restructuring.
Long-term recovery plan in place with expectations to break even by 2026 following a series of technical and financial challenges.
Siemens Energy focuses on European and US markets, scaling back operations in less profitable regions.