In a written statement, the company's supervisory board took pains to describe Noe's departure as an "amicable mutual agreement due to different views on the company's future business strategy."
It went on to say, "Suzlon Group has a policy of not commenting on rumor or speculation."
But speculation was rife on Monday, as Noe's was the second high level departure in a month. In March, the CFO Robin Banerjee left the firm, seeing his duties assumed by Kirti Vagadia, the head of corporate finance.
Suzlon Energy Ltd. (SUEL), India’s biggest wind turbine maker, lost its second senior manager in less than a month after the chief financial officer of its German unit Repower SE resigned.
According to Bloomberg, RePower's parent is struggling with debt repayments and considering a range of options, including an outright sale or a stake listing.
Reporting from Berlin, Bloomberg's Stefan Nicola attributed these reports to conversations with people with knowledge of the situation.
Reports by Bloomberg and others says Suzlon's difficulties stem from narrowing margins and competitive pressures growing, in part, out of the scaling back of renewables subsidies in Europe and the US.
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