Orsted Replaces CEO as Offshore Wind Challenges Mount

The Danish renewable energy giant faces financial setbacks, regulatory shifts, and rising costs, prompting leadership changes and a strategic reset.

Mads Nipper steps down as Orsted's CEO after four years, with Rasmus Errboe, the deputy CEO, taking over to address ongoing industry challenges.
Orsted's share value has plummeted 80% since 2021, reflecting investor concerns over its ability to recover from financial and operational setbacks.
The company has faced significant writedowns, including a $1.7 billion impairment in Q4 2024, driven by rising interest rates and delays in U.S. offshore wind projects.
Donald Trump's return to the presidency has added regulatory uncertainty, with a freeze on federal permits and loans for wind projects in the U.S.
Despite struggles in the U.S. market, Orsted continues to pursue European projects, with potential state aid from Denmark for future offshore wind capacity.