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International Business Times
International Business Times
Science

Offshore Wind Power Giant Orsted Changes CEO

Offshore wind power group Orsted's share price has fallen 80 percent since January 2021 (Credit: AFP)

Denmark's struggling offshore wind power group Orsted said Friday it was replacing its CEO with his deputy as the sector faces an "increasingly challenging situation".

Orsted said Mads Nipper would step down as chief executive on Saturday after four years on the job, with the board appointing 13-year company veteran Rasmus Errboe, the deputy CEO and chief commercial officer, to replace him.

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