Ørsted has found its new chief executive to replace Henrik Poulsen.

Mads Nipper, the current CEO of Grundfos, has agreed to take on the role of CEO at Ørsted to begin in late 2020, the company informs in a press release.

"The challenge we are facing in terms of 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 coming from all parts of society," Nipper writes in the statement.

"Since it is one of the world's five largest renewable energy companies, and since it has a clear ambition of leading the global energy transition, 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 towards becoming one of the future global leaders in renewable energy," he adds.

Mads Nipper will take office on Jan. 1, 2021, and Poulsen will remain in office until Dec. 31, 2020 "to support a smooth transition".

Poulsen will also serve as a special advisor to Nipper until Jan. 31, 2021, Ørsted adds.

English Edit: Nielsine Nielsen

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