Siemens Gamesa CEO Eickholt to step down by endJuly
To resume 4.X sales in Europe by endSeptember
Now expects 2024 sales to grow by 1012
Q2 profit before special items up more than fourfold
Shares 11.5

FRANKFURTDUESSELDORF, May 8 Reuters Siemens Energy unveiled sweeping changes at its struggling wind division on Wednesday, including job cuts and a new CEO, tightening its grip on a lossmaking business as the provider of power equipment emerges from its biggest crisis to date.

The announcement, which was flanked by a raised fullyear outlook and a fourfold increase in quarterly operating profit, caused shares in the former Siemens division to soar 11.5 to the top of Germany39;s bluechip index by 0828 GMT.

That was the highest level since the company disclosed major quality issues at its newer onshore wind turbine platforms 4.X and 5.X last June, causing shares to plummet and forcing the group to seek billions of euros in statebacked guarantees.

The turnaround of our wind business is still our focus. To this end, we are taking steps to reduce complexity and create a more focused business, Siemens Energy Chief Executive Christian Bruch said.

As part of the changes, which will include unspecified job and capacity cuts, board member Vinod Philip will become the new CEO of wind turbine unit Siemens Gamesa from August, the group said, adding it was time for a generational change.

Philip, who is currently in charge of functions such as IT, logistics and purchasing,…