Leadership Shift at Ørsted with Rasmus Errboe Taking the Helm Amid Industry Challenges

Rasmus Errboe, currently Ørsted’s Deputy CEO and Chief Commercial Officer, has been appointed as the company’s new Group President and CEO. He is set to assume the role on February 1, succeeding Mads Nipper, who has led the company for the past four years.

Announcing the leadership transition, Ørsted’s Board Chair, Lene Skole, stated that the renewable energy market had undergone significant changes since January 2021. She explained that increasing challenges in the offshore wind sector—including supply chain disruptions, rising interest rates, and evolving regulations—had necessitated a strategic shift in the company’s focus. As a result, the board had mutually agreed with Nipper that the time was right for him to step down, with Errboe chosen to take over as CEO.

Reflecting on Nipper’s tenure, Skole highlighted that since taking office in 2021, he and his team had expanded Ørsted’s installed renewable capacity from 11.3 GW to a projected 18.2 GW by 2025. She noted that under his leadership, the company had successfully managed a portfolio of legacy projects while consistently meeting its EBITDA targets.

Nipper described his four-year leadership at Ørsted as both challenging and rewarding, emphasizing the significant milestones achieved despite industry obstacles. He expressed pride in his colleagues’ dedication and extended his gratitude to those who had supported the company’s vision. As he stepped down, he conveyed his best wishes to Errboe and the team for the future.

Errboe, who has been with Ørsted since 2012 and joined the executive management team in 2022, has held several key leadership roles within the company. He played a crucial role in Ørsted’s 2016 IPO and oversaw the divestment and carve-out of its oil and gas business in 2017.

Looking ahead, Errboe emphasized Ørsted’s strong foundation and unique capabilities, acknowledging the challenges the company and the broader industry currently face. He reaffirmed the company’s commitment to offshore wind as a key driver of the green transition and expressed his eagerness to lead Ørsted through its next phase of transformation.

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