Vestas CFO Marika Fredriksson will step down by March 1, 2022.

She will be replaced by Hans Martin Smith, current CFO of Vestas Northern and Central Europe.

Fredriksson joined the Danish turbine maker in May 2013 and was responsible for Vestas’ finances during the company’s turnaround program.

In the midst of the crisis, the company cut costs and cut thousands of jobs, before declaring the end of its recovery period after the publication of its 2013 annual results.

Vestas CEO Henrik Andersen said: “Marika Fredriksson has had a huge impact on both Vestas and the wind energy industry as a whole, and has been instrumental in creating a strong Vestas’ financial base and market leading position.

His successor, Hans Martin Smith, joined the company in 2004 and became CFO of the Northern and Central Europe unit at Vestas in 2018.

During his tenure with the company, he helped Vestas strengthen its position in the main markets of Central and Eastern Europe, Scandinavia and Sub-Saharan Africa, and contributed to the integration of its offshore activities into following the acquisition of MHI Vestas Offshore Wind, the stated manufacturer.

Fredriksson said she will now focus on her role on the board – executive vice president – at Vestas.

Vestas plans to announce a successor to Smith soon as CFO of its Northern and Central Europe unit.

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