Orsted CEO Steps Down After Failing to Turn Around Wind Firm
Mads Nipper will step down as chief executive officer of Danish wind developer Orsted A/S after a series of significant writedowns over the past few years.
Nipper will step down on Feb. 1 and will be replaced by his deputy Rasmus Errboe, the company said Friday. Nipper had been CEO for four years and had been struggling to improve the company's financial performance after a series of setbacks in the US as the cost of building offshore wind farms keeps rising.
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