Doug Pertz has resigned as both president and chief executive officer of the firm he’s headed since September 2008.

Only last month the firm announced it was building the World’s largest windturbine in the UK.

However, the firm is expected to, in the near future, post second half financial losses.

Although, the markets anticipate these to be less than losses in excess of $120M the firm announced last September in the first half of its trading year.

Clipper chairman, Jim Dehlsen, said: “We offer a hearty expression of appreciation to Doug for his tireless efforts over the past 18 months.

“From the time Doug assumed the CEO role, he has faced challenging economic and industry conditions.

“We recognise his contribution to Clipper’s success and wish him the best in all his future activities.”

Mauricio Quintana has been appointed as Mr Pertz successor.

Luke Walsh

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