Anders Runevad to step down as Vestas CEO

Vestas today announces that Anders Runevad is stepping down as Group Chief Executive Officer and President of Vestas on 01 August 2019, and will be replaced by Henrik Andersen, currently Group CEO of Hempel A/S and member of Vestas’ Board of Directors. The appointment follows Vestas’ long-term succession planning, which will see Anders Runevad staying involved until mid-2020 as advisor to Vestas, including Vestas Chairman, Bert Nordberg, and the incoming CEO. During the same period, Anders Runevad will also remain Chairman of MHI Vestas Offshore Wind.

Having joined Vestas’ Board in 2013, Henrik Andersen has vast knowledge of Vestas’ business and brings extensive experience from management roles in global companies over the last 20 years. With the appointment of Henrik Andersen as Anders Runevad’s successor, Vestas aims to continue and to evolve its Profitable Growth Strategy and long-term vision, which Henrik has been heavily involved in as a board member for the last six years.

Upon Anders Runevad’s decision to step down, Bert Nordberg, Vestas Chairman of the Board, said: “On behalf of the Board, I would like to thank Anders for his tremendous contribution to Vestas since 2013. Under his strong strategic and operational leadership, Vestas successfully went through a turnaround, became the global leader in wind energy and started the journey towards becoming the global leader in sustainable energy solutions. As a result, Vestas has a strong foundation to execute on short-term priorities, invest in the future, and continue to help preserve our planet for future generations.”

On the appointment of Henrik Andersen, Bert Nordberg, said: “I’m proud and delighted that we have been able to attract and convince Henrik Andersen to succeed Anders Runevad as it will ensure continuation in the short-term and build momentum for our long-term vision. Henrik has a proven track record of building and transforming global businesses, which will be a huge asset as Vestas goes from the leader in wind energy to the leader in sustainable energy.”

Commenting on his decision to leave Vestas, Anders 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. Today, we are the global leader in wind and have started our journey to become the global leader in sustainable energy, and I’m pleased to hand over a company in great shape that will also benefit from the perspective of a new leader. I would like to take this opportunity to thank all the dedicated employees I’ve worked with over the last six years and I look forward to supporting Henrik and Bert as an advisor.”

On his appointment as Vestas’ new Group CEO and President, Henrik 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.”

As per announcement of 7 May 2019, Vestas Wind Systems A/S has completed a capital reduction of nominally DKK 6,794,040 representing 6,794,040 shares of nominally DKK 1 each in connection with cancellation of treasury shares.

Pursuant to section 32 of the Danish Consolidated Act No. 12 of 8 January 2018 on capital markets, notification is hereby given that as at 7 May 2019, Vestas Wind Systems A/S has a share capital of nominally DKK 198,901,963. The share capital consists of one share class, and each share of DKK 1 carries one vote corresponding to a total number of voting rights of 198,901,963.
On 3 April 2019, the Annual General Meeting of Vestas Wind Systems A/S adopted the proposal to reduce Vestas’ share capital by nominally DKK 6,794,040 by cancelling 6,794,040 shares from Vestas’ holding of treasury shares. The reduction of the share capital has been completed and registered today.

After the reduction, Vestas Wind Systems A/S’ share capital amounts to nominally DKK 198,901,963 corresponding to 198,901,963 shares of DKK 1 each.