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GE Vernova Names New Wind CEO: 37-Year Veteran Steps Down, Cable Industry Executive Takes Over

GE Vernova’s wind segment sees another major leadership reshuffle. On October 16, GE Vernova officially announced that Hakan Özmen will assume the role of Wind Business CEO starting January 1, 2027. He succeeds Vic Abate, a veteran with 37 years at the company. Abate will first serve as an advisor and retire within 2027.

This marks the second senior executive departure from GE Vernova’s wind business this month. David Hardy, former Head of Global Sales and Commercial, previously left to join solar firm Nextpower.

New CEO with Cable and Grid Expertise

Hakan Özmen does not come from the wind turbine sector. His professional background centers on cable manufacturing and grid modernization.

Prior to joining GE Vernova, he held the CEO position at Gridspertise, a grid software and service platform, for one year. Before that, he spent 15 years at Prysmian, the leading Italian cable manufacturer. During his tenure there, he managed North American operations for 8 years and served as Executive Vice President of Global Transmission and Subsea Projects for another 7 years. He oversaw the company’s IPO and multiple cross-border acquisitions. He also held roles at Pirelli and Siemens.

To sum up, he is an experienced executive with deep know-how in power grids, subsea cables, project delivery and global operation. He has no background in wind turbine manufacturing or product research and development.

This appointment sends a clear strategic signal. GE Vernova is shifting its priority for wind business beyond pure turbine hardware development toward grid-side delivery and integrated system solutions. Faced with fierce price competition in onshore wind and cost overruns for offshore projects, a leader skilled in grid and project execution may be better positioned to stop financial losses for GE Vernova wind division.

The 37-Year Veteran’s Legacy and Hardship

Vic Abate stands as one of the founding figures of GE Wind.

Over his 37-year career with GE, he witnessed and steered the growth of GE wind business from its early stage. In the early 2000s, as President and CEO of GE Power Renewable Energy, he built the wind business from a small startup team into a large-scale operation. He also managed gas power business and GE Global Research Center, making him a well-rounded leader with both technical and commercial expertise.

In his latest term as Wind CEO, Abate rolled out aggressive lean restructuring. The measures included workforce reduction, streamlined turbine portfolio and withdrawal from non-core markets to focus on key customers in the United States and Europe. These cost-cutting actions were designed to narrow losses by trimming product lines and controlling expenses.

However, market headwinds turned out more severe than projected. Weak domestic onshore wind orders in the US, rising costs for offshore developments, unfavorable government policies and tariff pressure kept dragging down GE wind financial performance. In Q2 2026, wind business revenue fell by 11% year on year. EBITDA posted a loss of 275 million US dollars, while new orders plummeted by 40% compared with the same period last year.

In his farewell post on LinkedIn, Vic Abate wrote: “We collectively navigated numerous challenges, upgraded technologies and product lines, and built a more resilient business. I am confident our biggest opportunities still lie ahead.”

Now it falls to his successor to seize those opportunities.

What Lies Ahead for GE Vernova Wind?

Based on Hakan Özmen’s track record, several strategic shifts are likely on the way.

• Transition from product-centric strategy to engineering and service-oriented operation. The team will strengthen offshore project delivery and grid integration capacity instead of competing merely on turbine specifications.
• Boost synergy with grid assets. Leverage Gridspertise grid software capability to deliver combined solutions covering wind turbines, power grids and energy storage.
• Maintain lean operation inherited from Abate. Further concentrate on high-margin projects and core markets across US and Europe.

For the global wind industry, GE Vernova’s contraction and strategic repositioning accelerates the reshaping of the historic three-major-player landscape including Vestas, Siemens Gamesa and GE. As GE shifts from global expansion to regional defense and system value-added services, greater market share opportunities open up for European and Chinese turbine manufacturers.

The wind chapter of this century-old industrial giant has reached another critical turning point.