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Ørsted’s current corporate structure with three business units, Offshore, Onshore, and Markets & Bioenergy, will be replaced by a primarily functional structure comprising Commercial and EPC & Operations. The Onshore business will continue to be organised in one business unit, Onshore.

The Commercial area will bring together commercially focused functions from the current Offshore and Markets & Bioenergy organisations, including Hydrogen. Commercial will be headed by Martin Neubert who will become Chief Commercial Officer (CCO), Deputy Group CEO of Ørsted, and new member of the Executive Board.

The EPC & Operations area will bring together the EPC, offshore operations, and bioenergy organisations from the current Offshore and Markets & Bioenergy organisations. EPC & Operations will be headed by a Chief Operating Officer (COO). The search for this role is ongoing. CEO Mads Nipper will lead the area until the position has been filled.

Onshore will remain a separate business unit. The Onshore business differs from the rest of Ørsted when it comes to its business model and strategic focus. Onshore will continue to be headed by Declan Flanagan.
 
Going forward, Ørsted’s Executive Board will consist of CEO Mads Nipper, CFO Marianne Wiinholt, and CCO and Deputy Group CEO Martin Neubert. Ørsted’s Executive Committee will consist of CEO Mads Nipper, CFO Marianne Wiinholt, CCO and Deputy Group CEO Martin Neubert, the new Chief Operating Officer, Onshore CEO Declan Flanagan, and CHRO Henriette Fenger Ellekrog.
 
Since the strategic streamlining of Markets & Bioenergy has been finalised, and as Markets & Bioenergy will no longer exist as a separate business area in Ørsted, Markets & Bioenergy CEO and Executive Vice President Morten Buchgreitz has decided to leave Ørsted with effect from 4 February. Executive Vice President and Head of Offshore EPC and QHSE Anders Lindberg has accepted a position in his native country Sweden and will leave Ørsted with effect from mid-February. All organisational changes will be effective from 4 February 2021.
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