Ørsted shakes up global management team following N.J. pullout

Ørsted’s chief financial officer and chief operating officer are leaving the company, the Danish wind power/energy company said Tuesday.

It is unclear if the company intends to make any changes in its North American operations, which are headed by CEO David Hardy.

The moves come weeks after the company announced it is taking a $4 billion charge in connection with its failed Ocean Wind 1 and Ocean Wind 2 projects in New Jersey.

Ørsted global CEO Mads Nipper, in a statement, said the company is adjusting to global conditions that are impacting the sector.

“Ørsted, along with the rest of the industry, is experiencing a challenging and volatile business environment,” Nipper said in a statement Tuesday.

“Therefore, the board of directors and I have agreed with our current CFO and COO that we need new and different capabilities to lead the finance and engineering, procurement and construction & operations functions to strengthen Ørsted’s journey into the future.”

CFO Daniel Lerup and COO Richard Hunter are stepping down immediately, the company said. Ørsted said it hopes to announce permanent replacements in 2024.

The wind power developer has been struggling with surging costs connected to supply chain problems and overall inflationary pressure.