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German wind power group Senvion appoints ex-Schaeffler head as CEO -source
December 17, 2015 / 1:22 PM / 2 years ago

German wind power group Senvion appoints ex-Schaeffler head as CEO -source

FRANKFURT, Dec 17 (Reuters) - German wind turbine company Senvion is set to appoint the former head of bearings maker Schaeffler as its new chief executive as it prepares to list on the stock exchange, a person familiar with the matter said, confirming a media report.

Juergen Geissinger, who led an audacious attack on peer Continental in 2008 which almost bankrupted Schaeffler, will also take a stake in Senvion, which is owned by buyout group Centerbridge, the source added, without disclosing the size of the stake.

Centerbridge has already launched preparations for an initial public offering of Senvion, less than a year after acquiring the company for 1 billion euros ($1.1 bln).

Germany’s manager magazin earlier reported Geissinger’s new job. He left Schaeffler in October 2013. ($1 = 0.9222 euros) (Reporting by Alexander Hübner; writing by Arno Schuetze; editing by Sabine Wollrab and Susan Fenton)

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