Mads Nipper is appointed CEO of Ørsted
The Board of Directors appointed Mads Nipper CEO and Group President of Ørsted as of 1 January 2021. Mads Nipper is currently CEO and Group President at Grundfos.
The appointment follows the decision by Henrik Poulsen, announced on 15 June 2020, to resign his position and step down as CEO of Ørsted no later than 31 January 2021.
Mads Nipper will take office on 1 January 2021. Henrik Poulsen will remain in office until 31 December 2020. To support a smooth transition, Henrik Poulsen will serve as special advisor to Mads Nipper until 31 January 2021.
The compensation package for Mads Nipper is in accordance with Ørsted’s remuneration policy and includes a fixed base salary of DKK 15 million 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. To participate in the long-term share-based remuneration programme, the CEO is required to own shares in Ørsted, as described in the remuneration policy. In 2021, the total target remuneration will be approx. DKK 20 million.
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