Ørsted has appointed Rasmus Errboe as its new group president and chief executive, effective tomorrow, replacing Mads Nipper. Errboe, who is currently the deputy CEO and chief commercial officer, will assume leadership as the company navigates challenges in the renewable energy market.
The company highlighted that the renewable energy sector has “fundamentally changed” since Nipper joined Ørsted in 2021. Chair of Ørsted's Board of Directors, Lene Skole, explained the decision, stating: “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.”
Skole praised Errboe's extensive experience within the company, noting his tenure since 2012 and his previous roles, including as regional head for Europe and CFO for Ørsted's global offshore business. She expressed confidence in his ability to lead the company through industry challenges, saying, “I'm therefore convinced that Rasmus is the right person to lead the company through the challenges facing the industry and Ørsted.
Errboe expressed his commitment to Ørsted's future, saying, “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.” He added, “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.
Skole also thanked Nipper for his contributions, highlighting the significant growth under his leadership. “Together with his team, Mads has increased Ørsted's installed renewable capacity from 11.3GW in 2021 to 18.2GW in 2025 while navigating a portfolio of legacy projects and consistently delivering on our EBITDA guidance,” Skole said.
Nipper, reflecting on his tenure, stated: “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.
