Wind giant Vestas names new CEO as Runevad steps down

Henrik Andersen to take top job at global turbine giant in switch from CEO post at materials group Hempel

Global onshore wind giant Vestas will have a new CEO from 1 August as current boss Anders Runevad steps down, the company announced.

Runevad will be replaced by Henrik Andersen, currently group CEO of coatings group Hempel and a member of the Vestas board since 2013.

Runevad said: “After completing the turnaround, implementing our Profitable Growth Strategy, and bringing wind energy on par with fossil fuel, Vestas and the industry have entered a new phase and I believe this is the right time for me to step down.”

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Andersen said: “I’m truly excited by the opportunity to join Vestas and continue the company’s journey to become the global leader in sustainable energy solutions.

“I’ve been part of Vestas for the last six years and will be working closely with Anders and the rest of the management team to ensure a smooth transition, so we execute successfully in 2019, prepare for the future and drive the energy transition forward.”

Runevad has been at the helm at Vestas since 2013 when he joined the wind group from Swedish telecoms company Ericsson, succeeding Ditlev Engel.

The Swede steered the Danish group from a financially rocky position to the global number-one spot in onshore wind – during a time of ferocious industry consolidation that has seen rivals merge or disappear – and a significant role in offshore wind.

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In an exclusive article for Recharge when Vestas passed 100GW of installed capacity, Runevad said the company and whole wind sector will have to change to adapt to the demands of the energy transition.

“We can’t expect past experiences and lessons to tell us how to deal with the coming opportunities and challenges,” he wrote.

Runevad will remain in post as chairman of MHI Vestas Offshore Wind, the group's 50/50 joint venture, until mid-2020, and as an adviser to Vestas over the same timeframe, Vestas said.

Vestas will report its first-quarter financial figures tomorrow.

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08 May 11:02 GMT