Today, the Board of Directors appointed Mads Nipper CEO and Group
President of Ørsted as of 1 January 2021. Mads Nipper is currently
CEO and Group President at Grundfos.
The appointment follows the decision by Henrik Poulsen, announced on 15
June 2020, to resign his position and step down as CEO of Ørsted no
later than 31 January 2021.
Thomas Thune Andersen, Chairman of the Board of Directors, said:
"On behalf of the Board, I'm very pleased to announce Mads Nipper as
Ørsted's next CEO. Anchored in a clear sustainability vision, Mads
has led a highly successful transformation of Grundfos over the past six
years that has reinforced the company's position in an increasingly
competitive market, while also strengthening financial performance. With
his deep commitment to sustainability and the green agenda, his strong
personal leadership, extensive CEO experience, and his distinguished
track record in leading global companies, the Board is confident that
Mads Nipper is the right person to lead Ørsted in the next phase of
our exciting journey."
Mads Nipper, Ørsted's next CEO and Group President, said:
"The challenge we face in transforming the world's energy systems from
fossil fuels to renewable energy to avoid the catastrophic consequences
of climate change is more pressing than ever and requires action in all
parts of society. As one of the five largest renewable energy companies
in the world and with a clear ambition to be a leader in the global
energy transformation, Ørsted is in a unique position to make a
difference in the fight against climate change. I'm very excited to join
the Ørsted team and to continue Ørsted's successful journey to
become one of the future global leaders in renewable energy."
Mads Nipper will take office on 1 January 2021. Henrik Poulsen will
remain in office until 31 December 2020. To support a smooth transition,
Henrik Poulsen will serve as special advisor to Mads Nipper until 31
The compensation package for Mads Nipper is in accordance with
Ørsted's remuneration policy and includes a fixed base salary of
DKK 15 million which also covers pension contribution, an annual
cash-based variable remuneration of 0-30% of the annual fixed salary
with a target of 15%, and a long-term share-based remuneration with a
target of 20% of the annual fixed salary. To participate in the
long-term share-based remuneration programme, the CEO is required to own
shares in Ørsted, as described in the remuneration policy. In 2021,
the total target remuneration will be approx. DKK 20 million.
The information provided in this announcement does not change
Ørsted's previous financial guidance for the financial year of 2020
or the announced expected investment level for 2020.
For further information, please contact:
+45 99 55 95 52
Allan Bødskov Andersen
+45 99 55 79 96
CV for Mads Nipper
Education: MSc in International Business, Aarhus School of Business,
2014 - 2020: CEO and Group President, Grundfos A/S
1991 - 2014: LEGO A/S, most recently as Chief Marketing Officer and
Executive Vice President as well as a member of the Management Board
-- Deputy Chairman, Confederation of Danish Industry
-- Vice Chairman of the Board of Directors, Danish Crown
-- Member of the Advisory Board, Axcel
Ørsted's vision is to create a world that runs entirely on green
energy. Ørsted develops, constructs, and operates offshore and
onshore wind farms, solar farms, energy storage facilities, and
bioenergy plants, and provides energy products to its customers.
Ørsted ranks #1 in Corporate Knights' 2020 index of the Global 100
most sustainable corporations in the world and is recognised on the CDP
Climate Change A List as a global leader on climate action.
Headquartered in Denmark, Ørsted employs 6,000 people.
Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2019,
the company generated revenue of DKK 67.8 billion (EUR 9.1 billion). For
more information on Ørsted, visit orsted.com or follow us on
Facebook, LinkedIn, Instagram, and Twitter.
-- 09SEP2020_Company announcement_Ørsted appoints Mads Nipper the next
CEO of Ørsted