Lars Bondo Krogsgaard has quit as chief executive of German wind OEM Nordex over the company’s recent sales forecasts that sent its share price plunging and been replaced by his deputy, former Acciona Windpower boss José Luis Blanco.

Bondo Krogsgaard, CEO since mid-2015, said he was leaving after the 2017/18 update that put Nordex’s shares into a tailspin, despite the company’s strong 2016 sales and profits figures.