All change at the top of Europe’s renewables majors as Vattenfall, Ørsted unveil new CEOs

September 11, 2020
Facebook
Twitter
LinkedIn
Reddit
Email
Anna Borg (pictured) will become Vattenfall's new chief executive on 1 November. Image: Vattenfall.

Both Vattenfall and Ørsted, two of Europe’s biggest renewables companies, will start next year with new bosses after the announcement of new chief executives this week.

Yesterday Swedish energy major Vattenfall revealed that Anna Borg would be taking the hot seat from 1 November, while Denmark’s Ørsted confirmed the appointment of current Grundfos chief executive Mads Nipper as its new chief exec, to start from 1 January 2020.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Vattenfall’s Anna Borg, the group’s current chief financial officer, will step up to become its chief executive officer and president, assuming the role currently held by Magnus Hall. Borg will take the hot seat on 1 November, and a search for a replacement CFO is now underway.

Borg previously served as senior vice president for Vattenfall’s business area markets, leading its domestic Nordic sales business, the company’s heat business in Sweden and its European B2C business.

Chairman of the board at Vattenfall Lars G Nordström said Borg would bring “broad and deep experience” to the role and was someone that had known both Vattenfall and the energy sector for many years.

“She has been involved in setting the company's new strategic direction and is the right person to now take on and continue its execution,” he said.

While more commonly associated with wind, Vattenfall has increased its activity in the solar sector over recent years. In March 2018 it earmarked €100 million (US$118.6 million) for new solar projects in Europe, with Magnus Hall describing solar as an “important supplement” to wind generators at the time.

Meanwhile, Danish energy giant Ørsted also confirmed a change to its top table this week, appointing current Grundfos CEO and group president Mads Nipper as its chief executive designate.  

Nipper will make the switch from 1 January 2021, replacing existing Ørsted boss Henrik Poulson who announced earlier this summer that he would be stepping down from his role no later than 31 January 2021.

Thomas Thune Andersen, chairman of the board of directors at Ørsted, said it was Nipper’s transformation of Grundfos that attracted the company to him as a leading candidate.

“With his deep commitment to sustainability and the green agenda, his strong personal leadership, extensive CEO experience, and his distinguished track record in leading global companies, the Board is confident that Mads Nipper is the right person to lead Ørsted in the next phase of our exciting journey,” he said.

“The challenge we face in transforming the world’s energy systems from fossil fuels to renewable energy to avoid the catastrophic consequences of climate change is more pressing than ever and requires action in all parts of society.

“As one of the five largest renewable energy companies in the world and with a clear ambition to be a leader in the global energy transformation, Ørsted is in a unique position to make a difference in the fight against climate change. I’m very excited to join the Ørsted team and to continue Ørsted’s successful journey to become one of the future global leaders in renewable energy,” Nipper added.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 30, 2025
Scatec posted development and construction (D&C) revenues of NOK1,760 million (US$175.1 million) in the third quarter of this year.
October 30, 2025
Global net zero by 2050 is now “impossible” and the world is on course for temperature rises of 2.6°C, according to energy market analyst Wood Mackenzie.
Premium
October 29, 2025
Damage to solar from so-called Natural Catastrophe events is increasing as the technology expands its reach and weather conditions worsen.
October 29, 2025
Greenvolt and European Energy have finalised financial deals for solar-plus-storage projects in Denmark and Latvia.
October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany