Orsted has appointed the boss of Danish pump manufacturer Grundfos Mads Nipper as its new chief executive.
Fifty-four-year-old Dane Nipper will take the reins from the departing Henrik Poulsen on 1 January 2021. Poulsen will stay on as special advisor until 31 January to support the transition.
The compensation package for Nipper includes a fixed base salary of Dkr15m (€2m), which also covers pension contribution, an annual cash-based variable remuneration of 0-30% of the annual fixed salary with a target of 15%, and a long-term share-based remuneration with a target of 20% of the annual fixed salary. In 2021, the total target remuneration will be around Dkr20m.
Orsted board chairman Thomas Thune Andersen said the new chief executive, who has also worked with Lego, has demonstrated a “clear sustainability vision” by leading the “transformation of Grundfos over the past six years that has reinforced the company’s position in an increasingly competitive market, while also strengthening financial performance”.
“With his deep commitment to sustainability and the green agenda, his strong personal leadership, extensive CEO experience, and his distinguished track record in leading global companies, the Board is confident that Mads Nipper is the right person to lead Orsted in the next phase of our exciting journey,” said Andersen.
Nipper said he is excited to continue “Orsted’s successful journey to become one of the future global leaders in renewable energy”.
He added: “Orsted was an opportunity I could not say no to.”