The Supervisory Board of Senvion SE, a wholly owned subsidiary of the Suzlon Group, the world's fifth-largest manufacturer of wind turbines, has appointed Kirti Vagadia as the company’s new chief financial officer. The appointment is effective as of Dec. 1, 2014.

Tulsi R. Tanti, chairman of the Suzlon Group and of the Senvion Supervisory Board said, ''By appointing Kirti Vagadia, the Supervisory Board is strengthening the company significantly, because he has over 20 years' experience in the wind energy industry and the management skills and background required to successfully oversee financial measures for the benefit of Senvion. The Suzlon Group is committed to Senvion and, by taking this step, is happy to be helping to guide the company's profitable and sustainable growth. We thank Kirti Vagadia for everything he has done for the Group so far and wish him much success in his new position.'' Before his appointment, Kirti Vagadia was Group Head Finance of the Suzlon Group and a member of the Supervisory Board of Senvion SE. He already stepped down from all his posts on 20th October 2014.

Andreas Nauen, CEO of Senvion SE, said, ''We are looking forward to intensifying our collaboration with Kirti Vagadia. In his role as a member of the Supervisory Board, he was an important business partner for us with his great commitment and profound knowledge. We will benefit considerably from being able to use his knowledge in all relevant financial topics even more directly.''

Shares of the company declined Rs 0.2, or 1.48%, to trade at Rs 13.31. The total volume of shares traded was 445,002 at the BSE (9.45 a.m., Tuesday).