Mads Nipper will leave Grundfos on 31 December 2020.
Mads Nipper will leave Grundfos on 31 December 2020.

Mads Nipper is stepping down as CEO of Grundfos at the end of the year to become CEO of the Danish energy company Ørsted.

Nipper, who has served as Grundfos CEO and group president since 2014, said his departure has been an extremely difficult decision.

“Grundfos is a unique company. The last six years have been a great journey for me. I have enjoyed every second and I am proud of the things we have achieved together. But Ørsted was an opportunity I could not say no to,” said Nipper.

“Grundfos has a very strong culture created by dedicated employees and strong values. I have no doubt that Grundfos, with this solid foundation, will continue to play a leading role in the future tackling the world’s water and climate challenges.”

“Grundfos has delivered outstanding results since Mads joined us in 2014. We would like to thank Mads for his strong contribution and congratulate him, and Ørsted, on his appointment,” said Jens Moberg, chairman of the Grundfos board.

“While I am sorry that Mads has decided to leave Grundfos I am very excited about our future. We have a clear strategy and we have strong leadership in place focused on delivering on our short-term goals in a challenging global economy as well as on our long-term strategic goals.”