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Ørsted is shaking up its management team in an effort to fix its problems after the world’s largest wind developer abandoned key projects in the US and wrote down the value of its portfolio by DKr28.4bn ($4bn).
Daniel Lerup, finance chief, and Richard Hunter, chief operating officer, are leaving with immediate effect, the company announced on Tuesday, about two weeks after it said it was walking away from the two offshore wind projects off the coast of New Jersey.
Copenhagen-listed Ørsted has been hit by rising costs, which have created problems for projects in the US in particular.
Mads Nipper, chief executive, said Ørsted was “along with the rest of the industry . . . experiencing a challenging and volatile business environment” and needed “new and different capabilities”.
Rasmus Errboe, chief executive of Ørsted’s European business, will serve as interim finance chief. Andrew Brown, a member of Ørsted’s board, will become interim chief operating officer.
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