Ørsted’s board of directors has selected Rasmus Errboe, current deputy CEO and chief commercial officer, as the new group president and CEO of the company. He has been with the company since 2012 and was appointed to deputy CEO in March 2024.
Errboe will be replacing Mads Nipper who will step down from his position as group president and CEO, effective Feb. 1.
Nipper has been Ørsted's group president and CEO since 2021. Previously, he served as Grundfos' CEO and group president from 2014 to 2020.
Lene Skole, chair of Ørsted’s board of directors, said, “The renewable energy market has fundamentally changed since January 2021 [when Nipper first joined the company]. 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 [Jan. 31, 2025] 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.”
Skole added, “As our Deputy CEO and CCO, and former regional head of our European market and former CFO for the global offshore business, he [Rasmus Errboe] has a deep understanding of our business and an extensive knowledge of the energy industry. I’m therefore convinced that Rasmus is the right person to lead the company through the challenges facing the industry and Ørsted.”Nipper is said to have increased Ørsted’s installed renewable capacity from 11.3 GW in 2021 to 18.2 GW in 2025 while navigating projects and delivering on the company's EBITDA guidance.
Nipper took to his LinkedIn today to share his perspective:
"It has been incredibly rewarding and inspiring - but also really challenging to lead a company that navigates an industry with countless headwinds the last years. And now, four years with the privilege of being CEO of Ørsted are coming to an end. The board of directors and I have come to the conclusion that I am no longer the right profile to lead the next steps of the journey for Ørsted. Simply because there is a need for a different focus than where my core competencies such as shaping industries, customer centricity and innovation are.
"I am excited to see my deputy CEO, Rasmus Errboe, taking the helm of Ørsted from here. And I am proud that there is an internal successor with exactly the right capabilities and experience to lead the next chapters for Ørsted. My passion for a world that runs entirely on green energy continues to be deeply profound - as does my gratitude for having been part of an absolutely amazing Ørsted team."
