Hans Martin Smith (pictured) has decided to step down as chief financial officer (CFO) at Vestas by end of 2024; a role he has held since 1 March 2022.
He leaves the company having served as CFO during a challenging and volatile period where he helped Vestas turn a heavily loss-making 2022 into a profitable 2023 and oversee Vestas continuing its positive profitability trajectory in 2024, the company said.
Vestas president and chief executive, Henrik Andersen, said: “I want to thank Hans on behalf of everyone at Vestas for his incredible contribution over the last two decades.
“I’ve enjoyed working closely with Hans, but I understand his decision to try something different after 20 years in Vestas, including three tough years as CFO through an extraordinarily volatile and demanding period for the industry and the company.”
Hans Martin Smith added “It’s been a privilege to be part of this amazing company for so long and serve as CFO through three challenging years for Vestas and the industry.
“This decision has been extremely difficult to make, but with the continued improvement in the Vestas’ profitability and having spent most of my career in the company, I feel the end of 2024 is the right time for me to explore what life outside Vestas could look like.”
Vestas has started the process to find a successor to Hans Martin Smith and said it will announce his replacement in due time.
Until a successor has been found, CFO responsibilities will be handled by senior vice president and head of group financial performance, Rasmus Gram.