Ørsted has today announced major changes to the organization and a farewell to several executives in the company. The changes come shortly after Mads Nippers took office as CEO on 1 January.
The current corporate structure with the three business areas, Offshore, Onshore and Markets & Bioenergy, will be replaced by a predominantly functional structure consisting of the areas Commercial and EPC & Operations. Onshore activities will continue to be organized in the Onshore business area.
The Commercial area will in future bring together functions with a commercial focus from the current Offshore and Markets & Bioenergy organizations, including Hydrogen. Commercial will be led by Martin Neubert, who will become Chief Commercial Officer (CCO), Deputy CEO of Ørsted and a new member of the Executive Board.
The EPC & Operations area will in future bring together the EPC, offshore operations and bioenergy functions from the current Offshore and Markets & Bioenergy organizations.
As a consequence of Markets & Bioenergy no longer being a separate business area in Ørsted, Morten Buchgreitz, CEO of Markets & Bioenergy and Executive Vice President, has resigned from Ørsted as of 4 February. Ørsted is in the process of finding his replacement. Mads Nipper will lead the area until this is done.
Onshore will remain an independent business area. The Onshore business differs from the rest of Ørsted in terms of business model and strategic focus and will be best equipped to realize its full potential by continuing as an independent business area. Onshore will continue to be led by Declan Flanagan.
- Ørsted is strongly positioned to exploit the future growth potential in the global renewable energy markets. With the new organization we are now implementing, we want to strengthen our focus on customers and markets, further strengthen the focus on our EPC and operational activities and support the scaling up of our organization as we continue our strong growth journey in the coming years, says Mads Nipper, Ørsted's CEO.
Several executives leaving Ørsted
It is not only Morten Buchgreitz who is saying goodbye to Ørsted. Anders Lindberg, Executive Vice President and responsible for offshore EPC and QHSE, has accepted a position in his home country of Sweden and will leave Ørsted with effect from mid-February.
- Both Morten and Anders have played an important role in making Ørsted what the company is today. On behalf of my colleagues in the Group Management and the Board of Directors, I would like to express my gratitude for the great contribution they have made during their time at Ørsted and wish them all the best in the future, says Mads Nipper.
Therefore, Ørsted's Executive Board will in the future consist of CEO Mads Nipper, CFO Marianne Wiinholt and Commercial Director and Deputy CEO Martin Neubert.
Ørsted's Group Management will also consist of Mads Nipper, Marianne Wiinholt, Martin Neubert, as well as the new COO, Onshore CEO Declan Flanagan and HR Director Henriette Fenger Ellekrog.
The organizational changes will enter into force on 4 February 2021.
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