Bloomberg News

Vestas Proposes to Name Sony Ericsson’s Nordberg as Chairman

February 17, 2012

Feb. 16 (Bloomberg) -- Vestas Wind Systems A/S, the world’s biggest wind-turbine maker, will propose Sony Ericsson Mobile Communications AB Chief Executive Officer Bert Nordberg as chairman when the incumbent, Bent Erik Carlsen, steps down.

The company also nominated Lars Olof Josefsson, a former president of Sandvik Group’s mining and construction unit, as its deputy chairman and TeliaSonera AB’s Eija Pitkanen as a board member, Aarhus, Denmark-based Vestas said in a statement today to the Copenhagen Stock Exchange. The three need to be elected at Vestas’s annual general meeting March 29.

Vestas is reeling from two downgrades to sales and margins forecasts in three months and the departures announced last week of Carlsen, Deputy Chairman Torsten Erik Rasmussen, board member Freddy Frandsen and Chief Financial Officer Henrik Norremark. The shares are down 17 percent this year and more than 50 percent since it first cut 2011 sales forecasts in October.

Nordberg, born in 1956, “brings strong experience from reorganizing a global high-tech company with 7,000 employees through a crisis while simultaneously developing the product portfolio and increasing sales volumes,” Vestas said in today’s statement.

-- Editors: Alex Devine, Amanda Jordan

To contact the reporters on this story: Alex Morales in London at amorales2@bloomberg.net;

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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