CFO and COO of Orsted Depart Immediately

Orsted has announced the immediate departure of its Chief Financial Officer and Chief Operating Officer. Rasmus Errboe, a member of the executive board, will step in as interim CFO after Daniel Lerup’s departure. Andrew Brown, a board member, will take over as interim COO, replacing Richard Hunter. Orsted has initiated the process of identifying new individuals for the CFO and COO positions, expecting to conclude the selection by early 2024.

Mads Nipper, Group President and CEO of Orsted, mentioned that the company, like the industry as a whole, is facing a challenging and volatile business environment. As a response to these challenges, the current CFO and COO have mutually agreed with the board to bring in new capabilities for leading the finance and EPC & operations functions to strengthen Orsted’s future trajectory. Nipper expressed gratitude to Daniel Lerup and Richard Hunter for their contributions to Orsted.

Rasmus Errboe, currently the CEO of Region Europe and executive vice president at Orsted, will serve as interim CFO, leading efforts with the finance team and the group executive team to support Orsted’s capital structure and long-term commitment to its credit rating. Olivia Breese will act as CEO of region Europe during Errboe’s interim CFO role while continuing in her position as senior vice president and head of power-to-x at Orsted.

Andrew Brown, appointed as interim COO and a member of the group executive team until March 1, 2024, will work with the EPC & operations team. His focus will be on managing the delivery of Orsted’s EPC projects and advancing a strengthened project management and supply chain strategy to align with anticipated industry developments. The company is actively engaged in the process of identifying suitable candidates for the permanent CFO and COO roles.

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