Ørsted is to implement a new organisational structure and is making changes to its executive management team, with chief commercial officer and deputy group chief executive Martin Neubert departing the company
In a statement, the company said its 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 will remain a global business area. EPC, operations and IT will continue as a global organisation with partly regionalised operations.
Ørsted chief executive and group president Mads Nipper said, “We are seeing unprecedented political ambition and opportunities in renewables. But it is also becoming an increasingly complex environment to operate in, with increasingly diversified local requirements, new needs and demands from customers, a shift to integrated energy systems and 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.”
As a result of the reorganisation, the executive committee business area commercial will no longer exist and Martin Neubert has decided to step down as chief commercial officer and deputy group chief executive and leave Ørsted after almost 15 years with the company.
Mr Neubert said, “It’s been a privilege and a fantastic journey to be part of Ørsted’s 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 number one, 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 pleased this development also means the company can promote internal talent.
“I have concluded this is the right time for me to step down and turn my focus and time towards exploring new, exciting challenges for the next stage of my career.”
Mr Nipper said, “I fully understand and respect Martin’s choice to use this opportunity to take the next step in his career. Over the past 15 years, he 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 learned a lot and really enjoyed working with Martin for the past two years.”
New members of the group executive team will include Rasmus Errboe, executive vice president and chief executive, Europe; David Hardy, executive vice president and chief executive, Americas; Per Mejnert Kristensen, senior vice president and president, APAC; Olivia Breese, senior vice president and head of power-to-X; Anders Zoëga Hansen, senior vice president and head of legal; and Ingrid Reumert, senior vice president and head of stakeholder relations.
Neil O’Donovan, the current chief executive of Ørsted’s onshore business and a 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 and partnerships.
There are no changes in respect of group president and chief executive, chief financial officer Daniel Lerup, chief human resources officer Henriette Fenger, and chief operating officer Richard Hunter, who all remain part of the executive team.
Ørsted’s executive board will consist of the chief executive, chief financial officer and chief human resources officer. Martin Neubert to step down and leave Ørsted by the end of October. All of the organisational changes will be effective as of 1 November 2022.
