Danish developer Ørsted has announced Mads Nipper as its next chief executive and group president, effective from the beginning of next year.
Mr Nipper will take over from Henrik Poulsen, who announced his intention to resign his position and step down from the role earlier this year.
Mr Poulsen will remain in the job as a special adviser until 31 December in order to ensure a smooth changing of hands.
Mr Nipper, who is currently chief executive and group president of Danish pump manufacturer and supplier Grundfos, will take up the reigns officially on 1 January 2021.
He previously worked for iconic toy production company Lego as chief marketing officer and executive vice president.
Mr Nipper 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.”
Thomas Thune Andersen, chairman of Ørsted’s 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.”