Orsted CEO steps down after failing to turn around wind firm

In Ireland, Orsted is headquartered in Cork city where it employs more than 100 people

Mads Nipper Photographer: Hollie Adams/Bloomberg

Mads Nipper will step down as chief executive officer of Danish wind developer Orsted after a series of huge writedowns over the past few years on both sides of the Atlantic.

He will be replaced by his deputy Rasmus Errboe on Saturday, the company said in a statement.