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    Home > Finance > Vestas appoints Jakob Wegge-Larsen as new CFO
    Finance

    Vestas appoints Jakob Wegge-Larsen as new CFO

    Published by Global Banking & Finance Review®

    Posted on January 15, 2025

    1 min read

    Last updated: January 27, 2026

    This image features Jakob Wegge-Larsen, the newly appointed CFO of Vestas, a key figure in the finance sector following his transition from DB Schenker. His appointment is significant for Vestas as the company navigates financial challenges.
    Jakob Wegge-Larsen appointed as new CFO of Vestas - Global Banking & Finance Review
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    Quick Summary

    Vestas appoints Jakob Wegge-Larsen as CFO, effective Q2 2024, succeeding Hans Martin Smith. The company anticipates a lower profit margin due to increased costs.

    Vestas Announces Jakob Wegge-Larsen as New Chief Financial Officer

    COPENHAGEN (Reuters) - Denmark's Vestas said on Wednesday it had appointed Jakob Wegge-Larsen as its new chief financial officer, adding he will start the position in the second quarter of this year.

    Wegge-Larsen joins Vestas from DB Schenker where he currently serves as CFO. He will replace Hans Martin Smith, who stepped down as CFO in December after 20 years with Vestas.

    The wind turbine maker in November posted a smaller than expected core profit for the third quarter and warned its profit margin for 2024 would likely be at the lower end of its forecast range due to higher costs and warranty provisions.

    (Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)

    Key Takeaways

    • •Jakob Wegge-Larsen appointed as Vestas CFO.
    • •Wegge-Larsen joins from DB Schenker.
    • •Hans Martin Smith stepped down in December.
    • •Vestas posted lower than expected Q3 profit.
    • •Profit margin for 2024 expected to be low.

    Frequently Asked Questions about Vestas appoints Jakob Wegge-Larsen as new CFO

    1What is the main topic?

    The main topic is the appointment of Jakob Wegge-Larsen as the new CFO of Vestas, a leading wind turbine manufacturer.

    2Who is Jakob Wegge-Larsen?

    Jakob Wegge-Larsen is the newly appointed CFO of Vestas, previously serving as CFO at DB Schenker.

    3Why did Vestas appoint a new CFO?

    Vestas appointed a new CFO following the departure of Hans Martin Smith, who stepped down after 20 years with the company.

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