Orsted Announces New Group CFO and COO

Orsted, a Danish renewable-energy company, has proposed Trond Westlie as the group's chief financial officer and Patrick Harnett as the chief operational officer. These appointments come after a management reshuffle aimed at addressing the challenges faced by the wind industry.

Trond Westlie: Experienced Finance Executive

Trond Westlie has an extensive background in finance, having served as the group CFO at A.P. Moller-Maersk, Veon, Telenor, and Aker Kvaerner. Currently, he is the chair of Norwegian industrial investment company Arendals Fossekompani and a board member at maritime group Wilhelmsen.

Patrick Harnett: Expert in Project Development

On the other hand, Patrick Harnett is currently leading European execution programs at Orsted, overseeing project development and construction of the U.K.'s Hornsea 3 project.

Both Westlie and Harnett will assume their new roles on April 1st.

Challenges Faced by Orsted

Orsted has been grappling with escalating costs in its offshore development projects due to supplier delays, higher funding costs, and inadequate government subsidies. To address these issues, the company recently launched a comprehensive plan involving cost cuts, a dividend pause, asset sales, and new business priorities.

Earlier, the company's chief financial officer Daniel Lerup and chief operating officer Richard Hunter stepped down, with Rasmus Errboe taking on the role of interim CFO and Andrew Brown as interim COO. Errboe will resume his position as CEO of Europe, while Brown is proposed as deputy chair and will step down by the end of March.