Ørsted's Mads Nipper replaced by Rasmus Errboe

Errboe is the current Deputy CEO and chief commercial officer and will commence his new duties as of 1 February 2025.

According to the chair of Ørsted's Board Lene Skole, the change has occurred in response to an increasingly challenging renewable energy landscape and the impacts this has had on the business.

Said Skole in a company release: “The renewable energy market has fundamentally changed since January 2021. The impacts on our business of the increasingly challenging situation in the offshore wind industry, ranging from supply chain bottlenecks, interest rate increases, to a changing regulatory landscape, mean that our focus has shifted.

"Therefore, the board has today agreed with Mads Nipper that it’s the right time for him to step down and the board has appointed Rasmus Errboe to take over as CEO,” concluded Skole.

Rasmus Errboe joined Ørsted in 2012 and became a member of executive management in 2022. He has held various positions within the company and is a member of the Executive Board.

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Rasmus Errboe commented on the appointment: “I’m honoured and humbled to step into the role of CEO of a company I’ve proudly served for the past 13 years. I have in-depth knowledge of the industry, and together with our skilled employees, I and the rest of the Group Executive Team will work relentlessly to create value for our customers, shareholders, and stakeholders at large. Ørsted has a strong foundation with unique capabilities, and I’m looking forward to taking the lead on the transformation necessary to navigate the headwinds that Ørsted and our industry currently face. Offshore wind remains crucial for the green transition, and we’re deeply committed to pursuing our vision of a world that runs entirely on green energy.”

Mads Nipper, who has been with Ørsted since January 2021, increased Ørsted’s installed renewable capacity from 11.3GW in 2021 to 18.2 GW in 2025.

Nipper commented on his exit: “Leading Ørsted through four challenging yet rewarding years has been a great privilege. Despite the obstacles we’ve faced, we’ve achieved many significant milestones, and I’m immensely proud of our colleagues’ efforts and dedication. I extend my gratitude to everyone who has supported and believed in our vision, and I wish Rasmus and the team all the best of luck.”

Added Skole: “On behalf of the board, I’d like to thank Mads Nipper for his commitment to Ørsted's vision and his strong and constructive collaboration with the board."