Nordex : José Luis Blanco appointed CEO of Nordex to succeed Lars Bondo Krogsgaard

Hamburg, 17 March 2017. Today the Supervisory Board has appointed José Luis Blanco to succeed Lars Bondo Krogsgaard as CEO of the Company. Nordex SE presented record sales and profits in 2016, and increased market share significantly. However, the company disappointed the market with its recent publication of its 2017/18 forecast, and this had substantial negative share price effect.

Lars Bondo Krogsgaard: 'Nordex is fundamentally stronger than ever, but our credibility has suffered as a consequence of the outlook, and this follows a period, where our handling of communication matters has been criticized. This is, ultimately, my responsibility, and I have therefore proposed to the Supervisory Board that I am released from my contract on mutually acceptable terms in the Company's best interest.'

The Supervisory Board of Nordex SE has accepted and agreed to Mr. Krogsgaard's proposal, and he will leave the company effective 31 March 2017.

Dr. Wolfgang Ziebart, Chairman of the Supervisory Board of Nordex SE: 'During Lars' tenure our company has more than tripled in size at steadily improving margins, and we have become a truly global player. This would not have happened without Lars' vision and energy. I regret Lars' departure, but the full Supervisory Board respects his decision to do what is considered to be in the best interest of the company. We thank him for his work and commitment over the last 6 ½ years and wish him all the best for the future. In appointing José Luis Blanco as CEO we ensure the continuity of the company's performance. He has a vast experience as a longstanding manager in the wind industry, we are very glad that José Luis Blanco accepted the appointment.'

Since the merger in April 2016 of Nordex and Acciona Windpower José Luis Blanco has been the Deputy CEO and COO. Previously, he was CEO of Acciona Windpower for more than 4 years. José Luis Blanco led the turnaround of Acciona Windpower to a profitable business in 2015. Before joining Acciona Windpower, José Luis Blanco spent 15 years at Gamesa holding different senior management positions, at various divisions including Wind USA, Solar, Engineering, Offshore and Commercial departments. He has more than 20 years of experience in the wind turbine industry.

José Luis Blanco will lead the company together with the Management Board members Christoph Burkhard (CFO) and Patxi Landa (CSO).