Mads Nipper Steps Down from Leading Ørsted, Rasmus Errboe Named New CEO

January 31, 2025, by Adrijana Buljan

Rasmus Errboe, Ørsted’s current Deputy CEO and Chief Commercial Officer, has been named Group President and CEO and will assume the role held by Mads Nipper for the last four years on 1 February.

“The renewable energy market has fundamentally changed since January 2021. 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. Therefore, the board has today agreed with Mads Nipper that it’s the right time for him to step down and the board has appointed Rasmus Errboe to take over as CEO”, said Lene Skole, Chair of Ørsted’s Board of Directors.

Skole further said that, since stepping into the CEO position in January 2021, Mads Nipper and his team have increased Ørsted’s installed renewable capacity from 11.3 GW in 2021 to 18.2 GW in 2025 while “navigating a portfolio of legacy projects and consistently delivering on our EBITDA guidance.”

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“Leading Ørsted through four challenging yet rewarding years has been a great privilege. Despite the obstacles we’ve faced, we’ve achieved many significant milestones, and I’m immensely proud of our colleagues’ efforts and dedication. I extend my gratitude to everyone who has supported and believed in our vision, and I wish Rasmus and the team all the best of luck”, said Mads Nipper.

Rasmus Errboe joined Ørsted in 2012 and became a member of executive management in 2022. Before being appointed Deputy CEO and CCO, Errboe held several leading positions within the company and was overall responsible for the IPO of Ørsted in 2016 and the divestment and carve-out of Ørsted’s oil & gas business in 2017.

“Ørsted has a strong foundation with unique capabilities, and I’m looking forward to taking the lead on the transformation necessary to navigate the headwinds that Ørsted and our industry currently face. Offshore wind remains crucial for the green transition, and we’re deeply committed to pursuing our vision of a world that runs entirely on green energy”, said Rasmus Errboe.