Tag

Product Rollout

All articles tagged with #product rollout

business2 years ago

Siemens Energy CEO admits rushing new products led to $2.4 billion wind turbine setback

Siemens Energy CEO Christian Bruch acknowledged that the company needs to slow down its introduction of new products after incurring 2.2 billion euros ($2.4 billion) in costs due to quality issues at its wind turbine subsidiary, Siemens Gamesa. The company's profit forecast was scrapped in June, and the board is currently reviewing the pervasive quality issues. Despite the financial setback, Siemens Energy reported strong growth in orders and revenue, with a record order backlog of 109 billion euros. Bruch emphasized the need to stabilize the business and ensure a profitable operation by slowing down the rapid rollout of new products.