Orsted Faces Investor Pressure to Cut Dividend After Share Slump
- Wind company to pitch strategic plan to shareholders Wednesday
- Trust in management ‘disappeared,’ Danske Bank analyst says
Orsted CEO Mads Nipper.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Wind-energy titan Orsted A/S will pitch its strategic plan to investors this week, after a disastrous 2023 that saw a multibillion-dollar writedown on US projects and the dismissal of two top executives.
Just eight months after its last major update to shareholders, the firm will seek to make the case that supply-chain issues and soaring costs are now contained. Chief Executive Officer Mads Nipper will need to present a convincing recovery plan after overseeing Orsted’s value slide to less than a third of its 2021 peak.