Troubled wind power giant Orsted appoints CFO, head of operations [Reuters]
A.P MOLLER-MRS UNS/ADR (AMKBY)
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Source: Reuters
on Tuesday it had appointed a new chief financial officer and a new head of operations as it seeks to overcome a string of project cancellations and financial losses. The group said Trond Westlie, a former CFO of Danish shipping giant A.P. Moller-Maersk and Norway's Telenor, would become its new head of finance, while Patrick Harnett will become head of operations (COO), with effect from April 1. Harnett, who joined Orsted in 2016, is in charge of project development and construction of Hornsea 3, which will become the world's single largest offshore wind farm when completed. The offshore wind industry finds itself battling a perfect storm of rising inflation, interest rate hikes and delays in the supply chain struggling to cope with growing demand. In November, Orsted said its finance and operations chiefs were stepping down with immediate effect after the company reported large financial losses due to delays with U.S. projects. Seeking to restore investor confidence, Orste
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