Siemens Gamesa shareholders approve delisting

By Editor


Siemens Gamesa said the Extraordinary General Meeting of Shareholders, held in Bilbao, has approved the delisting of the company by 98.43 percent of the votes of the shareholders.

This process is part of the cash tender offer submitted by Siemens Energy in May 2022, with the aim of leveraging the companies’ joint potential.

Siemens Energy has a 92.72 percent stake in Siemens Gamesa as 77.88 percent of Siemens Gamesa’s minority shareholders tendered their shares during the acceptance period, which closed on December 13, 2022.

Following the approval granted by the shareholders, the delisting of the Siemens Gamesa shares is now subject to authorization by the National Securities Market Commission (CNMV) and the settlement of all the purchase transactions.

“Despite investments flowing into renewables, the wind industry is facing financial challenges. Siemens Gamesa has presented the Mistral strategy program to get back on track, and the company needs now to implement it rigorously,” Christian Bruch, non-executive Chairman of the Board of Directors (Supervisory Board) of Siemens Gamesa, said.

“Concurrently, we have been discussing with regulators, policymakers, and our customers at all levels the requirements that are needed to make the strategically important wind industry successful,” he said.

Siemens Gamesa will reduce the number of members on the Board of Directors from ten to three, with the aim of simplifying the current governance structure and streamlining decision-making. Board members Francisco Belil, Gloria Hernandez, Harald von Heynitz, Maria Ferraro, Rudolf Krammer and Mariel von Schumann, who submitted their resignations in December 2022, will leave Siemens Gamesa once the company is delisted.

Chairman Christian Bruch and CEO Jochen Eickholt will remain on the new board along with Anton Steiger, who serves as a non-executive proprietary director.

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