Wind developer Ørsted is making sweeping changes to its organisation, and will see the departure of long-serving Chief Commercial Officer and Deputy Group CEO Martin Neubert.
The group said it would adopt a new organisational structure and make changes to executive management team in a bid to support continued growth.
Its current corporate structure based on commercial areas and an onshore business unit will be replaced by three operating 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.
However in its financial reporting the company will continue to report three segments: Offshore, Onshore, and Bioenergy & Other.
Group executive responsibilities will also be shuffled accordingly. Alongside six new appointments to the executive team, onshore CEO Neil O’Donovan, will take on a new position as executive vice president and head of strategy, portfolio and partnerships.
There are no changes in respect of Group President and CEO Mads Nipper, CFO Daniel Lerup, CHRO Henriette Fenger, and COO Richard Hunter, who all remain part of the executive team.
As Mr Nipper explained: “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.”
Mr Neubert said he would use the opportunity to step down, after almost 15 years with the company.
“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,” he said in a statement.
“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.”
All organisational changes will be effective as of 1 November 2022.