Orsted – Ørsted appoints new Group CFO and COO

February 27, 2024
ORSTED

Today, Ørsted’s Board of Directors has appointed Trond Westlie as Ørsted’s next Group Chief Financial Officer (CFO) and member of the Executive Board and the Group Executive Team effective as of 1 April 2024. 

 

On the same date, Patrick Harnett will join Ørsted’s Group Executive Team as Chief Operational Officer (COO).

 

Trond Westlie has served as Group CFO at A.P. Moller-Maersk, at VEON, at Telenor, and at Aker Kvaerner, and he holds a master’s degree in auditing. Trond Westlie is currently Chair of the board at Arendals Fossekompani, a Norwegian industrial investment company focused on forward-looking technologies within the green energy transition, and board member at Wilhelmsen group, a Norwegian multinational maritime company.

Patrick Harnett is currently Head of European Execution Programmes at Ørsted and in charge of project development and construction of Hornsea 3, which will become the world’s single largest offshore wind farm. He joined Ørsted in 2016 as Senior Project Director and became Senior Programme Director for Hornsea 2 in 2020. Before joining Ørsted, he held positions within projects and operations at the energy companies Centrica and EDF Energy. Patrick Harnett holds an Executive MBA and a Master of Science in Electromechanical Engineering.

Thomas Thune Andersen, Chair of the Board of Directors of Ørsted A/S, says:
“On behalf of the Board, I’m very pleased to announce Trond Westlie as our next Group CFO and Patrick Harnett as our next COO. They’ll bring strong international financial skills and execution skills to the Group Executive Team and support the successful implementation of the strategy plan we announced on 7 February 2024.”

 

Mads Nipper, Group President and CEO of Ørsted, says:
“Trond Westlie has very strong competences from an impressive career as CFO in several global, listed companies, while Patrick has already demonstrated his strong skills in project execution by building Hornsea 2. I look forward to welcoming both Trond and Patrick to the team.”

 

Trond Westlie says:
“I’m happy to join a very capable company with an important purpose, and I look forward to working with the team to successfully execute the newly launched plan and further strengthen Ørsted’s financial position.”

 

Patrick Harnett says:
“I’m very grateful for the trust the Board and CEO have extended to me, and I look forward to continuing the implementation of our new project operating model, which will ensure stronger risk management, contingency planning, and governance when executing projects.”

 

Rasmus Errboe, who has acted as interim CFO since 14 November 2023, will return to his position as CEO of Region Europe by the end of March 2024.

As previously announced, Andy Brown, who has acted as interim COO since 14 November 2023, will step down by the end of March 2024. The Board of Directors has recommended that Andy Brown be elected as Deputy Chair of the Board of Directors at Ørsted’s annual general meeting on 5 March 2024.

Mads Nipper says:
“I’d like to extend my sincere appreciation and gratitude for the immense work both Rasmus and Andy have done in their interim periods. Under their strong leadership, we’ve progressed substantially in both the establishment of our new business plan and in developing our new project operating model.”

 

The information provided in this announcement does not change Ørsted’s previous financial guidance for the financial year of 2024.

SourceORSTED

EMR Analysis

More information on Ørsted: See the full profile on EMR Executive Services

More information on Thomas Thune Andersen (Chair of the Board of Directors, Ørsted until 5 March 2024): See the full profile on EMR Executive Services

More information on Lene Skole (Deputy Chair, Board of Directors, Ørsted + Recommended to be elected as new Chair, Ørsted on 5 March 2024): See the full profile on EMR Executive Services

More information on Andrew Brown (Member of the Board of Directors, Ørsted + Group Executive Team, Interim Chief Operating Officer, expectedly until late March 2024 + Recommended to be elected as new Deputy Chair, Ørsted on 5 March 2024): See the full profile on EMR Executive Services

More information on Mads Nipper (Group President and Chief Executive Officer, Ørsted): See the full profile on EMR Executive Services

More information on Rasmus Errboe (Group Executive Team – Interim Chief Financial Officer, Ørsted till 1st of April, 2024 + Head of the Sustainability Committee, Ørsted + Chief Executive Officer, Region Europe, Ørsted as from 1st of April, 2024): See the full profile on EMR Executive Services

More information on Olivia Breese (Group Executive Team – Senior Vice President and Head of Power-to-X + Acting Chief Executive Officer of Region Europe, Ørsted till 1st of April, 2024): See the full profile on EMR Executive Services

More information on Trond Westlie (Group Executive Team – Group Chief Financial Officer, Ørsted as from 1st of April, 2024): See the full profile on EMR Executive Services

More information on Patrick Harnett (Head of European Execution Programmes, Ørsted till 1st of April, 2024 + Group Executive Team – Chief Operational Officer, Ørsted as from 1st of April, 2024): See the full profile on EMR Executive Services

More information on the Ørsted Hornsea 1 Offshore Wind Farm: https://orsted.co.uk/energy-solutions/offshore-wind/our-wind-farms/hornsea1 + 

Powering over 1 million homes with green electricity

Hornsea 1, located in the North Sea, generates enough green energy to power over 1 million UK homes. The wind farm comprises 174 turbines and covers an area of 407 square kilometres (157.2 square miles), which is over five times the size of the city of Hull.

  • 1.2GW The combined total capacity of the project
  • 174 7MW wind turbines
  • 900km Cable route

Located 120 km (74.6 miles) off the Yorkshire coast in the North Sea, Hornsea 1 is our 12th operational wind farm in the UK. It was the world’s first offshore wind farm to exceed 1 GW in capacity and produces enough green energy to power well over one million homes. 

Hornsea 1 became fully operational in 2019 and is operated and maintained from our East Coast Hub in Grimsby which supports a workforce of more than 370 people. 

The offshore wind farm is owned by Ørsted (50%) and Global Infrastructure Partners (50%).

More information on the Ørsted Hornsea 2 Offshore Wind Farm: https://hornseaprojects.co.uk/hornsea-project-two + Powering well over 1.4 million homes with green electricity.

Hornsea 2 Offshore Wind Farm is located approximately 89 km (55.3 miles) off the Yorkshire coast in the North Sea and adjacent to Hornsea One offshore wind farm.

Hornsea 2 key facts:

  • 165 Siemens Gamesa 8MW turbines
  • Hornsea Two will have a capacity of over 1.3GW and provide power to more than 1.4 million homes
  • Located approximately 89km off the Yorkshire coast in the North Sea
  • Hornsea Two will span an offshore area of 462km²
  • Landfall at Horseshoe Point
  • Became fully operational on 31 August 2022

More information on the Ørsted Hornsea 3 Offshore Wind Farm: https://hornseaproject3.co.uk/ + Hornsea Three offshore wind farm could meet the average daily needs of well over 3 million UK homes.

In August 2015, Ørsted acquired the rights to develop the Hornsea Zone from SMart Wind Ltd, who were originally awarded the zone in The Crown Estate Round 3 bid process. To date, Hornsea One and Hornsea Two have both received planning consent, with Hornsea One now operational and Hornsea Two currently under construction.

On 14 May 2018, we submitted a Development Consent Order (DCO) application for a  third project in the zone, Hornsea Project Three Offshore Wind Farm.

The application was accepted by the Planning Inspectorate in June 2018 and was granted consent by the Secretary of State for the Department for Business, Energy and Industrial Strategy on 31 December 2020. 

  • Location:
    • Hornsea Three will be located in the North Sea, approximately 120 km off the Norfolk coast and 160 km off the Yorkshire coast.
  • Size:
    • Up to 231 offshore wind turbines will be located within a 696 km2 area.
  • Power output:
    • The wind farm will be capable of generating at least 2.85 GW of green electricity, enough to meet the average daily needs of well over 3 million homes.

More information on Luke Bridgman (Senior Project Director, Hornsea 3, Orsted): See the full profile on EMR Executive Services

More information on the Ørsted Hornsea 4 Offshore Wind Farm: https://hornseaprojects.co.uk/hornsea-project-four  + Hornsea 4 offshore wind farm has been consented on 12.07.2023.

Hornsea 4 is the first ever offshore wind farm to be examined alongside a derogation case including environmental compensation.

We are now reviewing the full detail of the Development Consent Order and will continue to work closely with stakeholders and local communities as we look to take Hornsea 4 forward sensitively and sustainably.

Offshore wind projects such as Hornsea 4 are key to the UK’s energy security and will bring billions of pounds of investment into the UK, provide low-cost electricity for consumers and thousands of high-quality jobs.

  • Location: Ørsted is proposing to develop Hornsea Four, 69km (at its closest point) off the Yorkshire Coast.
  • Size: We are currently investigating an offshore area of up to 492 km2 where up to 180 wind turbines could be located.

 

 

More information on A.P. Moller-Maersk: https://www.maersk.com + A.P. Moller – Maersk is an integrated container logistics company and member of the A.P. Moller Group. Connecting and simplifying trade to help our customers grow and thrive. With a dedicated team of around 95000, operating in 130 countries; we go all the way to enable global trade for a growing world.

  • 100,000+ employees
  • 700+ container vessels deployed
  • 65 terminals across 36 countries
  • 130 countries
  • 100,000+ customers
  • 3bn business events on maersk.com
  • 7m+ SQM warehousing capacity worldwide in 450+ sites
  • 2040 Net Zero climate-neutral across our business

More information on Vincent Clerc (Chief Executive Officer, Maersk A/S): https://www.maersk.com/about/executive-leadership-team/vincent-clerc + https://www.linkedin.com/in/vincent-clerc-56a7524/ 

 

More information on VEON Ltd: https://www.veon.com/ + VEON is a digital operator that currently provides converged connectivity and online services to around 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming people’s lives, creating opportunities for greater digital inclusion to empower people and drive economic growth.

More information on Kaan Terzioğlu (Chief Executive Officer, VEON): https://www.veon.com/about-us/leadership/ + https://www.linkedin.com/in/kaanterzioglu/ 

 

More information on Telenor: https://www.telenor.com/ + Telenor Group is a leading telecommunications company across the Nordics and Asia with 158 million subscribers and annual sales of around NOK 99 billions (2022). 

We are committed to responsible business conduct and driven by the ambition of empowering societies. Connectivity has been Telenor’s domain for more than 165 years, and our purpose is to connect our customers to what matters most. Telenor is listed at Oslo Stock Exchange under the ticker TEL. 

  • 8 markets
  • 158 million subscribers
  • 99 billion NOK revenues
  • 14,000 employees

More information on Sigve Brekke (President and Chief Executive Officer, Telenor): https://www.telenor.com/about/corporate-governance/group-leadership-team/ + https://www.linkedin.com/in/sigvebrekke/

 

More information on Aker Kvaerner: https://www.akersolutions.com/ + Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs.

By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 11,000 people in more than 15 countries.

More information on Kjetel Digre (Chief Executive Officer, Aker Kvaerner): https://www.akersolutions.com/who-we-are/management/ + https://www.linkedin.com/in/kjetel-digre/

 

More information on Arendals Fossekompani: https://arendalsfossekompani.no/en + Arendals Fossekompani is an investment company that owns energy and technology-related companies which enable the transition to a greener economy.

Arendals Fossekompani has provided people and communities with clean energy and inspiration since 1896. While running water continues to power our business, we also create value by building companies that enable the transition to a sustainable future. Arendals Fossekompani is an industrial investment company that combines industrial, technological, and capital markets expertise to identify and develop opportunities for value creation. We invest our financial resources, skills and creativity in forward-looking industries such as 3D printing, algo trading, satellite services, energy storage and solar technology, software and digitalisation, as well as various other technologies that drives the green energy transition. Arendals Fossekompani has been listed on the Oslo Stock Exchange since 1913. Our headquarters is in Arendal.

More information on Lars Peder Fensli (Interim Chief Executive Officer + Chief Financial Officer and Executive Vice President, Arendals Fossekompani): https://arendalsfossekompani.no/en/who-we-are + https://arendalsfoss-site.files.svdcdn.com/production/website/documents/Annual-Integrated-Report-2022.pdf + https://www.linkedin.com/in/lars-peder-fensli-4bb2a5/

 

More information on Wilhelmsen Group: https://www.wilhelmsen.com/ + Founded in Norway in 1861, Wilhelmsen is now a comprehensive global maritime group providing essential products and services to the merchant fleet, along with supplying crew and technical management to the largest and most complex vessels ever to sail. Committed to shaping the maritime industry, we also seek to develop new opportunities and collaborations in renewables, zero-emission shipping, and marine digitalization. Supporting a diverse and inclusive workplace, with thousands of colleagues across more than 60 countries, we take innovation, sustainability and unparalleled customer experiences one step further.

More information on Thomas Wilhelmsen (Group Chief Executive Officer, Wilhelmsen Group): https://www.wilhelmsen.com/about-wilhelmsen/governing-elements/board-and-management/group-management-team/ + https://www.linkedin.com/in/thomas-wilhelmsen-ab50a315/

 

More information on Centrica plc: https://www.centrica.com/ + Energy is in our DNA. From supplying the gas and coal that powered the industrial revolution, to becoming the market-leading energy services and solutions company we are today, we’ve been at the centre of the UK energy industry for over 200 years.

Today, we are unique among energy companies in the UK and Ireland, operating across the entire energy value chain through a variety of distinct, but complimentary businesses, all of which share the same purpose – helping you live sustainably, simply, and affordably.

Centrica Energy Trading A/S, part of Centrica’s Energy Marketing and Trading business unit is the trading and optimisation arm of Centrica plc. We are a leading provider of energy management and optimisation services to businesses, in addition to managing commodity risk and providing wholesale market access for the Centrica Group. We have 16.5GW of capacity under contract in Europe, more than 85% of which is renewable assets.   

More information on Chris O’Shea (Group Chief Executive, Centrica plc): https://www.centrica.com/who-we-are/leadership/chris-o-shea/ + https://www.linkedin.com/in/chrisoshea/ 

 

More information on EDF Energy: https://www.edfenergy.com/ + As Britain’s biggest generator of zero carbon electricity we’re busy building Britain’s own wind, nuclear and solar energy supply to reduce our reliance on energy imports and help prevent future price rises.

EDF is helping Britain achieve Net Zero by leading the transition to a cleaner, low emission, electric future and tackling climate change. It is the UK’s largest producer of low-carbon electricity(1) and supplies millions of customers with electricity and gas.

It generates low carbon electricity from five nuclear power stations and more than thirty onshore wind farms and two offshore wind farms.

EDF is leading the UK’s nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C, and there are advanced plans for a replica at Sizewell C in Suffolk. Hinkley Point C and Sizewell C will provide low carbon electricity to meet 14% of UK demand and power around 12 million homes.

EDF is one of the UK’s largest investors in renewables, with more than 1GW of renewable generation in operation and over 5GW in construction, planning and development across a range of technologies including onshore and offshore wind, solar and battery storage. We are constructing our largest offshore wind farm in Britain – the 450 MW Neart na Gaoithe project in Scotland.

EDF is helping its customers, both in business and at home, take their first steps to sustainably powering their lives. Whether it is buying an electric car, generating and storing electricity, selling energy back to the grid or installing a heat pump. EDF is one of the largest suppliers to British business and a leading supplier of innovative energy solutions that are helping businesses become more energy independent. In addition, the company’s energy services business, Dalkia, is one of the largest technical service providers in the UK and Ireland.

EDF is part of EDF Group, the world’s biggest electricity generator. In the UK, the company employs around 14,000 people at locations across England, Scotland, Wales and Ireland.

More information on Simone Rossi (Chief Executive, EDF Energy): https://www.edfenergy.com/about/governance + https://www.linkedin.com/in/simone-rossi-515870105/