Vestas swaps out another international ops CFO

A Vestas worker fine-tunes a component of one of the company's turbines. Vestas' international operations office has hired its third CFO in the past year.
Vestas Wind Systems

A Vestas worker fine-tunes a component of one of the company's turbines. Vestas' international operations office has hired its third CFO in the past year.

Vestas Wind Systems’ international operations will welcome its third CFO in the past year.

Marika Fredriksson will assume the role, replacing Dag Gunnar Andresen. Vestas’ statement on the change revealed that Andresen “ unfortunately has decided to leave the company by the end of this month due to personal reasons.”

Fredriksson is a Swedish national who will assume the top financial job on May 1. She’ll immediately face challenges as the company addresses the challenging turbine sales market. Vestas and other wind turbine companies were put into a bind because the federal government didn’t extend an industry production tax credit until the last minute.

Andresen earned praise for “his important contribution to Vestas,” said Ditlev Engel, the company’s group president and CEO. “At the same time, I am very pleased that we have managed to find an excellent new CFO ... I am certain that she has the right competences, commitment and cultural fit into our executive management team.”

Fredriksson has worked as CFO with such companies as Gambro, Autoliv and Volvo Construction Equipment. Vestas officials noted that she’s worked on company turnarounds and mergers and acquisitions.

The Wall Street Journal reported Henrik Norremark, whom Andresen had replaced, was fired by the company last summer after two profit warnings hammered the company’s traded shares (VWS.KO).

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