Ex-Orsted chief Nipper: ‘I’m not traumatised, but I won’t be a CEO again’

Former Orsted chief Mads Nipper has ruled out any future CEO role after his ousting from the Danish renewables giant, but says that’s not because he had a terrible experience there.

Nipper was speaking today at the Denmark’s ‘Folkemødet’ – translated in English as ‘Public Meeting’ – an annual democracy festival held on the island of Bornholm.

Nipper left his post as CEO of global renewable energy giant Orsted in January amid what the company’s chairman called a “shift of focus”.

The return of Donald Trump to the White House just days before his departure had seen the company’s share price – as so many others – take a big hit. But damningly, Nipper presided over an 80% drop in Orsted’s share price during his four-year tenure, although this did coincide with sector-wide challenges for offshore wind, Orsted's core focus.

Nipper has since his departure been appointed board chair of Danish multinational FLSmidth, having previously been vice chair.

At the event today, local media reported that Nipper, 59, confirmed that he will not take another CEO role after Orsted.

Nipper higlighted that he has been on the boards of major Danish companies for over 20 years and a CEO for over ten years.

Now he has the “privilege” of chairing the board of FLS, he said, while also referencing a recent agreement to work as an advisory partner at Swiss asset manager Partners Group.

In the future, he said he will be pushing for the “right kind of leadership and moving the world in the right direction” from the boardroom or as an advisor.

“It has nothing to do with Orsted being traumatising or anything.”

Nipper reportedly said that he did not regret his experience at all, and has learned more in his four years at Orsted than many people do in their entire professional careers. “It's been a gift in most ways,” he said. “It's been tiring, but it's been a gift.”