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Ørsted has replaced chief executive Mads Nipper as the world’s largest offshore wind developer faces deepening challenges in the US market and persistent disruptions to its supply chains.
Nipper, who has led the Danish company since 2021, would be replaced on February 1 by Rasmus Errboe, deputy chief executive and chief commercial officer, Ørsted said on Friday.
“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,” the Danish company said.
Nipper’s departure comes after Ørsted this month announced fresh writedowns on its US business, blaming the impact of high interest rates and the uncertain outlook for the market.
US President Donald Trump has suspended new offshore wind leases in the US, which Ørsted first entered in 2018.
This is a developing story