REG-Ørsted A/S Ørsted to implement new organisational structure and changes to executive management to drive global growth. Martin Neubert to step down and leave Ørsted by end of October

Oersted A/SAnnouncement

04/10/2022 08:00

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   Ørsted A/S (Orsted)
   Ørsted to implement new organisational structure and changes to executive
   management to drive global growth. Martin Neubert to step down and leave
   Ørsted by end of October

   04-Oct-2022 / 08:54 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   4.10.2022 08:54:32 CEST | Ørsted A/S | Inside information

   To continue to drive growth under increasingly different local market
   requirements, while leveraging the synergies of a global organisation,
   Ørsted has decided to implement a new organisational structure and changes
   to executive management.

   The current corporate structure with a Commercial area and an Onshore
   business unit will be replaced by three regions: Europe, Americas, and
   APAC, comprising all commercial activities and represented in executive
   management. The Power-to-X organisation (P2X) will remain a global
   business area. EPC, Operations & IT will continue as a global organisation
   with partly regionalised operations.

   Mads Nipper, Group President and CEO of Ørsted, says: “We see
   unprecedented political ambitions and market possibilities within
   renewables. But it’s also becoming an increasingly complex environment to
   operate in, with increasingly diversified local requirements, new needs
   and demands from customers, a shift towards integrated energy systems, and
   not least fierce competition. That’s why we’re moving even closer to our
   markets and our customers and integrating our offshore and onshore
   renewables organisations. At the same time, we’re empowering our market
   organisations to ensure simpler and faster decision-making processes.”

   Changes to executive management
   New members of the Group Executive Team will be:

     • Rasmus Errboe (Executive Vice President and CEO of Region Europe)
     • David Hardy (Executive Vice President and CEO of Region Americas)
     • Per Mejnert Kristensen (Senior Vice President and President of Region
       APAC)
     • Olivia Breese (Senior Vice President and Head of Power-to-X)
     • Anders Zoëga Hansen (Senior Vice President and Head of Legal)
     • Ingrid Reumert (Senior Vice President and Head of Global Stakeholder
       Relations).

   Neil O’Donovan, the current CEO of Ørsted’s onshore business and member of
   the Executive Committee, will take on a new role in the Group Executive
   Team as Executive Vice President and Head of Strategy, Portfolio &
   Partnerships.

   There are no changes in respect of Group President & CEO Mads Nipper, CFO
   Daniel Lerup, CHRO Henriette Fenger, and COO Richard Hunter, who all
   remain part of the Group Executive Team.

   Ørsted’s Executive Board will consist of the CEO, the CFO, and the CHRO.

   Martin Neubert to step down and leave Ørsted by end of October
   In connection with the reorganisation we are announcing today, the
   Executive Committee business area Commercial will no longer exist, and
   Martin Neubert has decided to take this opportunity to step down as Chief
   Commercial Officer and Deputy Group CEO and leave Ørsted after almost 15
   years with the company.

   Martin Neubert says: “It’s been a privilege and a fantastic journey to be
   part of Ørsted's very successful transformation from a Danish utility
   predominantly based on fossil fuels to a global leader in green energy.
   Building up the offshore wind business in Ørsted, leading it to where it
   is today as the global #1, and incubating P2X as a new growth business for
   Ørsted has been an incredible ride. I see the reorganisation as the
   natural next step for Ørsted, and I’m immensely pleased that this
   development also means that Ørsted can promote great internal talent to
   head up the new business functions in the Group Executive Team. I’ve
   naturally concluded that this is the right time for me to step down and
   turn my focus and time towards exploring new, exciting challenges for the
   next level of my career outside of Ørsted.”

   Mads Nipper says: “I fully understand and respect Martin’s choice to use
   this opportunity to take the next step in his impressive career. Over the
   past 15 years, Martin has played a key role in transforming Ørsted and
   positioning us as the global leader in offshore wind. It’s been a great
   partnership, and I’ve learnt a lot and really enjoyed working with Martin
   for the past two years. On behalf of my colleagues in the Executive
   Committee and the Board of Directors, I’d like to express our sincere
   gratitude for his years of strong contributions and wish him all the best
   in the future.”

   All organisational changes will be effective as of 1 November 2022.

   In its financial reporting, Ørsted will continue to report in three
   segments: Offshore, Onshore, and Bioenergy & Other.

   For further information, please contact:

   Media Relations
   Martin Barlebo
   +45 99 55 95 52
    1 mabar@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. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive
   biodiversity impact from all new renewable energy projects it commissions
   from 2030 at the latest. Ørsted ranks as the world’s most sustainable
   energy company in Corporate Knights' 2022 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 7,292 people. Ørsted's shares are listed on Nasdaq
   Copenhagen (Orsted). In 2021, the group's revenue was DKK 77.7 billion
   (EUR 10.4 billion). Visit  3 orsted.com or follow us on Facebook,
   LinkedIn, Instagram, and Twitter.

       Attachments

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       executive management to drive global growth. Martin Neubert to step
       down and leave Ørsted by end of October.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  192097
   EQS News ID:   1455847


    
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References

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