Senvion’s independence is crumbling
The Indian Suzlon Group(link is external) is increasing its influence over its German subsidiary Senvion SE(link is external). On December 1, Kirti Vagadia from India became the new CFO at Senvion. Chief Strategy Officer (CSO) Alex De Ryck, on the other hand, is leaving the company on 15 December.
Before Vagadia was appointed Chief Financial Officer of Senvion, he served as CFO at the Suzlon Group and was a member of the Supervisory Board at Senvion. Tulsi R. Tanti, Chairman of Suzlon Group and Chairman of the Supervisory Board at Senvion SE, said: “With the appointment of Kirti Vagadia, the Supervisory Board is significantly strengthening the company. He has 20 years of experience in the wind energy industry, the necessary management skills as well as the experience to successfully guide the financial steps taken by Senvion. The Suzlon Group is committed to Senvion, and this step will help to ensure the profitable and sustainable growth of the company.”
Andreas Nauen, CEO at Senvion, said: “We are looking forward to co-operating even more closely with Kirti Vagadia now. In his role as a member of the Supervisory Board, his great dedication and profound knowledge made him an important dialogue partner. We will benefit significantly from the fact that we can now utilise his knowledge of important financial issues even more directly than before.”