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Orsted chief executive Henrik Poulsen is to step down, having overseen the remarkable transformation from fossil fuels to renewables.

The global leader in wind energy has invested heavily into the º£½ÇÊÓƵ, putting it at the forefront of the industry, while creating the world’s largest operations and maintenance base in Grimsby.

Mr Poulsen, who has also led the company through the name change and flotation, said: “It’s been an incredible ride over the past eight years, and I have a tremendous amount of affection for Ørsted, its vision, and not least its people. Together, we’ve transformed a Danish utility predominantly based on fossil fuels into a global leader in green energy, which was ranked as the world’s most sustainable company earlier this year. In the process, we’ve increased the market value of the company by several hundred per cent.

“We’re now at a point where the transformation is completed, and we’ve built a strong platform for global growth. I’ve concluded that it’s the right time for me to step down and free up time to pursue other challenges. It’s been difficult to reach this conclusion, but it’s nonetheless the right decision. I owe a lot of gratitude to the board of directors and group executive management for their support and confidence – and to all Ørsted team members for what they’ve done for the company during my tenure.”

He will be nominated for the board of directors at the next annual meeting in March 2021, and will serve in his role until the end of January next year at the latest, as a search for a successor begins.

“I’ve not made any decisions about my future plans,” he said. “I’ll find other challenges where I can make a contribution. Time will show where, when, and what type of role. Before opening a new door, I want to make sure that I leave my current role in an orderly fashion and without missing a beat. For now, my focus will remain solely on Ørsted. And I’m very happy to accept the board’s nomination for the Ørsted board. An appointment will allow me to remain part of the fabulous Ørsted team and support the company’s continued strategic development.”

Under the former Dong Energy entity he spoke to guests when Westermost Rough was inaugurated in 2015.

Thomas Thune Andersen, chairman of the board told how “Henrik has led a profound and highly successful transformation of Ørsted over the past eight years”, going on to express his “sincere gratitude and appreciation for the remarkable results he’s spearheaded together with the entire Ørsted team”.