Siemens Energy's Wind Turbine Woes Cause Stock Plunge and CEO Shock.
Siemens Gamesa CEO Jochen Eickholt has admitted that the scale of problems with the company's wind turbine bearings and rotor blades is much worse than he anticipated, leading parent company Siemens Energy to withdraw its 2023 profit guidance. The component failures are a "bitter setback" for the company.