Orsted deputy group CEO Martin Neubert is to step down and leave the company by end of October.
Neubert, who is also chief commercial officer, has been with the developer for almost 15 years.
Neubert’s decision to leave follows a reorganisation initiated by the developer where the Executive Committee business area and Commercial will no longer exist.
Orsted CEO and president Mads Nipper said: “I fully understand and respect Martin’s choice to use this opportunity to take the next step in his impressive career.
“Over the past 15 years, Martin has played a key role in transforming Ørsted and positioning us as the global leader in offshore wind.
“It’s been a great partnership, and I’ve learnt a lot and really enjoyed working with Martin for the past two years.
“On behalf of my colleagues in the Executive Committee and the Board of Directors, I’d like to express our sincere gratitude for his years of strong contributions and wish him all the best in the future.”
Neubert said: “It’s been a privilege and a fantastic journey to be part of Ørsted’s very successful transformation from a Danish utility predominantly based on fossil fuels to a global leader in green energy.
“Building up the offshore wind business in Ørsted, leading it to where it is today as the global #1, and incubating P2X as a new growth business for Ørsted has been an incredible ride.”
All organisational changes will be effective as of 1 November 2022.
Orsted’s new organisational structure and changes to executive management will see the current corporate structure with a Commercial area and an Onshore business unit replaced by three regions: Europe, Americas, and APAC, comprising all commercial activities and represented in executive management.
The Power-to-X organisation (P2X) will remain a global business area.
EPC, Operations & IT will continue as a global organisation with partly regionalised operations.
Nipper said: “We see unprecedented political ambitions and market possibilities within renewables. But it’s also becoming an increasingly complex environment to operate in, with increasingly diversified local requirements, new needs and demands from customers, a shift towards integrated energy systems, and not least fierce competition.
“That’s why we’re moving even closer to our markets and our customers and integrating our offshore and onshore renewables organisations.
“At the same time, we’re empowering our market organisations to ensure simpler and faster decision-making processes.”
New members of the Group Executive Team will include Rasmus Errboe (Executive Vice President and CEO of Region Europe), David Hardy (Executive Vice President and CEO of Region Americas), Per Mejnert Kristensen (Senior Vice President and President of Region APAC) and Olivia Breese (Senior Vice President and Head of Power-to-X).
Neil O’Donovan, the current CEO of Ørsted’s onshore business and member of the Executive Committee, will take on a new role in the Group Executive Team as Executive Vice President and Head of Strategy, Portfolio & Partnerships.
There are no changes in respect of Group President & CEO Mads Nipper, CFO Daniel Lerup, CHRO Henriette Fenger, and COO Richard Hunter, who all remain part of the Group Executive Team.
All organisational changes will be effective as of 1 November 2022.