Siemens Gamesa Renewable Energy on Oct. 16 announced leadership changes, including naming current CFO Miguel Ángel López as non-executive board chairman, to better respond to the market.

López will succeed Rosa García, who has decided to leave the company, effective Dec. 1. David Mesonero, the current head of corporate development, strategy and integration, will assume the CFO role on the same day.

Ricardo Chocarro, Siemens Gamesa Renewable Energy's CEO of the onshore business unit, will also leave the company. Mark Albenze will replace Chocarro in the interim, while still serving as CEO of the service business unit.

Additionally, the company also plans to appoint a COO, a newly established role to better address market dynamics and strengthen cost-out efforts, in the next weeks.

Siemens Gamesa Renewable Energy is the result of the merger of Siemens AG's wind business and Gamesa Corporación Tecnológica SA in April 2017.

"Eighteen months after the merger we are concluding the first phase of our strategic plan [centered] around merging and stabilizing the company," Siemens Gamesa Renewable Energy CEO Markus Tacke said. "In the next phase, our efforts will focus on leveraging economies of scale and creating the foundation for sustainable profitability."