Vestas CEO Anders Runevad leaves

  • Push-out Score determined
  • After about six years in the position
  • Praise and thanks for Runevad
  • Henrik Andersen taking over
  • Runevad said 116 words

(exechange) — Aarhus, Denmark, May 8, 2019 — Anders Runevad, chief executive of Vestas, leaves. As announced by Vestas Wind Systems A/S in a news release on Tuesday, May 7, 2019, Anders Runevad leaves his post as Chief Executive Officer at the Danish wind turbine maker after about six years in the role, effective August 1, 2019.

Anders Runevad’s duties will be taken over by Henrik Andersen, currently Chief Executive Officer of Hempel A/S.

Already a director

Andersen is already a director of Vestas. Directors-turned-executives represent a blend of outsider and insider.

They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.

Having been a director, Andersen understands the expectations and dynamics of the board and has knowledge of Vestas’s organization, risk-management practices and strategy.

“Long-term succession planning”

Anders Runevad’s departure from the CEO post is explained as follows. Vestas said: “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.”

“Stepping down”

Vestas said: “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.”

Share price increase since September 2013

The announcement follows an increase in Vestas Wind Systems A/S’s share price of 318 percent since September 2013.

Chaired by Bert Nordberg

Vestas Wind Systems A/S is chaired by Bert Nordberg.

He has served as Chairman of the company’s Board of Directors since 2012.

In the position of CEO since 2013

Anders Runevad has been the Chief Executive Officer and Group President of Vestas Wind Systems A/S since September 1, 2013.

Runevad’s bio reads as follows:

Born: 16 March 1960

Nationality: Swedish

Resident: Sweden

Position: Group President & CEO, Vestas Wind Systems A/S (2013-)

Shareholding

Vestas shareholding as at 9 May 2019: 46,797 shares.

Competencies

Education:

  • 1985-1989 MBA studies, University of Lund (SE)
  • 1980-1984 Master of Science in Electrical Engineering, University of Lund (SE)

Former positions:

  • 2010-2013 President Region West & Central Europe, Ericsson (UK)
  • 2006-2010 Executive Vice President, Sony Ericsson (UK)
  • 2004-2006 President, Ericsson Brazil (BR)
  • 2000-2004 Vice President, Sales and Marketing, Business unit Network, Ericsson AB (SE)
  • 1996-2000 President, Ericsson Singapore (SG)
  • 1991-1996 Product Manager / Director Product Management, Ericsson Group (SE)
  • 1989-1991 Product Manager, Ericsson-General Electric USA (USA)
  • 1985-1989 Various positions at Ericsson Group (SE)

Fiduciary positions

  • Chairman of the board of: MHI Vestas Offshore Wind A/S (DK).
  • Member of the boards of: Nilfisk Holding A/S (DK) and Schneider Electric (FR).

Positions of trust

  • Member of: The General Council of the Confederation of Danish Industries (DK) and The Industrial Policy Committee of the Confederation of Danish Industries (DK).
Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

Read the full story in the exechange report 19.2019 ($).