Ørsted Appoints New CEO as Mads Nipper Steps Down

(Credit: Ørsted)

Ørsted has appointed Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new Group President and CEO of the company replacing Mads Nipper who will step down from his position.

Mads Nipper joined Ørsted in January 2021. He will step down as CEO on February 1, 2025, at which time Rasmus Errboe will step into the role of Group President and CEO.

Errboe joined Ørsted in 2012 and became a member of executive management in 2022. Before being appointed Deputy CEO and Chief Commercial Officer, Rasmus Errboe has held the positions of Interim Group CFO, Regional Head of Europe, Regional Head of Continental Europe, CFO for the Offshore business unit globally, and Head of Ørsted’s Group M&A department.

 “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,” said Lene Skole, Chair of Ørsted’s Board of Directors.