June 19, 2024

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Siemens Energy Braces for First Investor Encounter Since Crisis

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Chief Executive Officer Christian Bruch will face the ire of Siemens Energy AG shareholders on Monday for the first time since quality problems at the company’s Gamesa wind-turbine unit spiraled into record losses.

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(Bloomberg) — Chief Executive Officer Christian Bruch will face the ire of Siemens Energy AG shareholders on Monday for the first time since quality problems at the company’s Gamesa wind-turbine unit spiraled into record losses. 

The good news is that the share price has doubled since hitting a record low in October, thanks to a €15 billion ($16.2 billion) government-led package to shore up the company’s finances, followed by strong sales in its gas-services and power-grid businesses.

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Bloomberg News

2024-02-26 04:03:11

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