Denmark's Ørsted said today its finance and operations chiefs were stepping down with immediate effect after the offshore wind farm developer earlier this month reported large financial losses.
The search for successors to chief financial officer Daniel Lerup and chief operating officer Richard Hunter will begin immediately, Ørsted added.
"The board of directors and I have agreed with our current CFO and COO that we need new and different capabilities," CEO Mads Nipper said in a statement.
The offshore wind industry has found itself in a perfect storm of rising inflation, interest rate hikes and supply chain delays, casting doubt on plans by the US and elsewhere to replace fossil fuels with renewable energy.
Ørsted, the world's largest offshore wind developer, on November 1 scrapped two US offshore wind projects, flagging $5.6 billion in related impairments.
Rasmus Errboe, who has been with Ørsted since 2012 and runs the company's European operation, will serve as interim CFO.
"Together with the finance team and the group executive team, Rasmus Errboe will lead the work on supporting Orsted's capital structure and long-term commitment to its credit rating," the company said.
Board member Andrew Brown, who has executive experience from Shell and Portugal's Galp, was appointed interim COO, it added.
The company's financial guidance and expected level of investment for 2023 is unchanged, it added.
Earlier this year, ESB and Ørsted agreed a new deal to jointly develop an Irish offshore wind portfolio.
