Prospects for BARD dim as chief executive abruptly resigns

Germany’s BARD announced the abrupt departure of its chief executive and conceded a willingness to sell itself off in chunks, presenting another setback to the flailing company and the broader German offshore wind sector.

Chief executive Bernd Ranneberg will leave BARD “at his own request” less than a year and a half after joining the company, which has fallen at least two years behind schedule at its flagship 400MW BARD Offshore 1 project – the first commercial offshore wind farm to built in the German North Sea.

While no replacement for Ranneberg has been named, BARD has appointed Michael Baur as its new executive chairman.

Baur is currently managing director of Munich-based business consultancy AlixPartners and has been “closely monitoring” BARD for the past 18 months.

Former BARD…

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