REG-Ørsted A/S Ørsted implements changes to executive management

Oersted A/SAnnouncement

14/11/2023 07:00

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   Ørsted A/S (Orsted)
   Ørsted implements changes to executive management

   14-Nov-2023 / 07:58 CET/CEST

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   14.11.2023 07:58:15 CET | Ørsted A/S | Inside information

   By mutual agreement, two members of executive management are stepping down
   and leaving Ørsted with immediate effect: Daniel Lerup, Chief Financial
   Officer (CFO), and Richard Hunter, Chief Operating Officer (COO). Ørsted
   has initiated the processes of identifying a new CFO and a new COO and
   expects the processes to be concluded as soon as possible in 2024.

   Mads Nipper, Group President and CEO of Ørsted, says:
   “Ørsted, along with the rest of the industry, is experiencing a
   challenging and volatile business environment. Therefore, the Board of
   Directors and I have agreed with our current CFO and COO that we need new
   and different capabilities to lead the Finance and EPC & Operations
   functions to strengthen Ørsted’s journey into the future. I would like to
   thank both Daniel Lerup and Richard Hunter for their contributions to
   Ørsted. I’ve enjoyed working with both of them for the past years and wish
   them all the best with their new endeavours.”

   Interim management
   From today, Rasmus Errboe will serve as interim CFO and member of the
   Executive Board. Currently, Rasmus Errboe is CEO of Region Europe and
   Executive Vice President at Ørsted and has been with the company since
   2012 in different management positions, including as CFO for Ørsted’s
   offshore wind business. Together with the Finance team and the Group
   Executive Team, Rasmus Errboe will lead the work on supporting Ørsted’s
   capital structure and long-term commitment to its credit rating. While
   Rasmus Errboe serves as interim CFO, Olivia Breese will act as CEO of
   Region Europe while continuing in her current role as Senior Vice
   President and Head of Power-to-X at Ørsted.

   Andrew Brown, member of Ørsted’s Board of Directors, has been appointed
   interim COO and member of the Group Executive Team, expectedly until 1
   March 2024. Andrew Brown has extensive international executive experience
   from leading positions in large global organisations such as Shell and
   most recently as CEO of the Portuguese energy company Galp. Together with
   the EPC & Operations team, Andrew Brown will ensure a continued focus on
   managing the delivery of our EPC projects while also further advancing and
   implementing a strengthened project management and supply chain strategy
   to reflect anticipated industry developments.

   The information provided in this announcement does not change Ørsted’s
   previous financial guidance for the financial year of 2023 or the
   announced expected investment level for 2023.

   For further information, please contact:

   Media Relations
   Carsten Birkeland Kjær
   +45 99 55 77 65
    1 cabkj@orsted.com

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 ir@orsted.com

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate
   Change A List as a global leader on climate action and was the first
   energy company in the world to have its science-based net-zero emissions
   target validated by the Science Based Targets initiative (SBTi).
   Headquartered in Denmark, Ørsted employs approx. 8,700 people. Ørsted's
   shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's
   revenue was DKK 132.3 billion (EUR 17.8 billion). Visit  3 orsted.com or
   follow us on  4 Facebook,  5 LinkedIn, Instagram, and  6 Twitter.

       Attachments

     •  7 Ørsted implements changes to executive management.pdf

   News Source: Ritzau

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DK0060094928
   Category Code: BOA
   TIDM:          Orsted
   Sequence No.:  284581
   EQS News ID:   1772349


    
   End of Announcement EQS News Service

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