Denmark’s Ørsted, the world’s main offshore wind developer, has appointed Mads Nipper as its subsequent CEO. Nipper will exchange Henrik Poulsen as of January 1, 2021.

Poulsen, who resigned in June, led the corporate for eight years, overseeing its transformation from Danish Oil and Pure Fuel (Dong) to its standing as we speak as a renewable vitality main. 

Nipper, 54, is CEO of Danish pump producer Grundfos, the place he established bold sustainability targets. Like Poulsen, Nipper can be an alumnus of Danish toy producer Lego.

“Anchored in a transparent sustainability imaginative and prescient, Mads has led a extremely profitable transformation of Grundfos over the previous six years that has bolstered the corporate’s place in an more and more aggressive market, whereas additionally strengthening monetary efficiency,” mentioned Thomas Thune Andersen, chair of Ørsted’s board of administrators, in an announcement.

“Along with his deep dedication to sustainability and the inexperienced agenda, his robust private management, in depth CEO expertise and his distinguished observe report in main international corporations, the board is assured that Mads Nipper is the precise individual to steer Ørsted within the subsequent part of our thrilling journey,” added Thune Andersen.

Grundfos’ share worth has greater than doubled underneath Nipper’s tenure.

“As one of many 5 largest renewable vitality corporations on the planet and with a transparent ambition to be a frontrunner within the international vitality transformation, Ørsted is in a novel place to make a distinction within the combat towards local weather change,” mentioned Nipper in an announcement. “I’m very excited to hitch the Ørsted group and to proceed Ørsted’s profitable journey to grow to be one of many future international leaders in renewable vitality.”

Nipper joins as the corporate begins to focus on new geographies and doubles down on its onshore renewable commitments too. The U.S. shall be of specific curiosity as Ørsted seems to be to navigate regulatory hurdles and execute on the initiatives already in its pipeline, in addition to including new ones.

His goal remuneration, together with bonuses, quantities to DKK 20 million ($three.17 million).

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