Gazette

THE ASSOCIATED PRESS

FILE - In this April. 28, 2009, file photo, of the wind farm 'Horns Rev' in the North Sea, near the Dansih coast. Vestas A/S, the world's biggest maker of wind turbines in terms of revenues, said Thursday it will lay off around 2,300 employees, mainly in Denmark, because of a market downturn caused by the financial crisis.

CFO of Denmark's Vestas Wind Systems resigns

February 07, 2012 7:56 PM

| Print Story | E-Mail Story

THE ASSOCIATED PRESS

DENVER — The chief financial officer of Vestas Wind Systems A/S is resigning.

The company said in a brief written statement that the board received a briefing Tuesday about the conditions that have led to recent profit warnings, and as a result, CFO Henrik Noerremark is resigning. He had joined the company's executive management in March 2004.

The Danish turbine maker said in January that it would lay off 2,335 people worldwide and 1,600 U.S. jobs could be at risk if Congress doesn't extend tax breaks for renewable energy.

Vestas has been dealing with tough competition from Chinese competitors and fallout from a global recession that slowed investments in wind power.

The company has invested more than $1 billion in four facilities in Colorado. Its U.S. operations are headquartered in Portland, Ore.