Ørsted announces new corporate structure and mass top table reshuffle

Ørsted announced plans to change its organizational structure as part of efforts to strengthen its ability to tap into new markets and better serve customers.

The Danish renewable energy giant will replace its current business units – offshore, onshore, markets and bioenergy – with a “mainly functional structure”.

As part of the new setup, there will be new commercial and EPC & operations components, while onshore will continue to be organized into a single element.

The trade area will bring together functions focused on current offshore trade and market and bioenergy organizations, including hydrogen, Ørsted said.

It will be headed by Martin Neubert, who will become CCO, deputy general manager of the group and new member of the management board.

The EPC & Operations domain will bring together the EPC, Offshore Operations and Bioenergy organizations of the current Offshore and Markets & Bioenergy units.

Work is currently underway to appoint a COO, with CEO Mads Nipper taking on the responsibilities until someone is found.

All organizational changes will be effective from February 4, 2021.

Regarding the onshore business, Ørsted said it would be best to continue acting as a separate unit as it differs from the rest of the business. It will continue to be led by Declan Flanagan.

Ørsted has gone through a period of significant change over the past few years as it moved away from a fossil fuel-based utility business to focus on green energy.

Mads Nipper, CEO of Ørsted, said: “Ørsted is well placed to exploit the future growth potential of global renewable energy markets. With the new organization we are now putting in place, we want to establish an even stronger customer and market focus, further strengthen our focus on EPC and operations, and support the scaling of our organization as we continue our strong growth trajectory in the years to come. .”

Going forward, Ørsted’s board will consist of CEO Mads Nipper, Chief Financial Officer Marianne Wiinholt and CCO and Deputy Group Chief Executive Martin Neubert.

The company’s executive committee will consist of CEO Mads Nipper, CFO Marianne Wiinholt, CCO and Deputy Group Chief Executive Martin Neubert, new COO, Onshore CEO Declan Flanagan and CHRO Henriette Fenger Ellekrog.

As markets and bioenergy will no longer exist as a separate business area, its CEO and Executive Vice President Morten Buchgreitz has decided to leave Ørsted effective February 4.

Executive Vice President and Head of Offshore EPC and QHSE, Anders Lindberg will also be leaving the company after accepting a position with another company in Sweden.

Mr Nipper said: “Morten and Anders have been instrumental in shaping Ørsted into what it is today. On behalf of my colleagues on the Executive Committee and the Board, I would like to express our gratitude for their solid contributions during their time at Ørsted and wish them all the best for the future.

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