Ørsted has decided to change its organisational structure. The current corporate structure with three business units, Offshore, Onshore, and Markets & Bioenergy, will be replaced by a primarily functional structure comprising Commercial and EPC & Operations. The Onshore business will continue to be organised in one business unit, Onshore. The Commercial area will bring together commercially focused functions from the current Offshore and Markets & Bioenergy organisations, including Hydrogen. Commercial will be headed by Martin Neubert who will become Chief Commercial Officer (CCO), Deputy Group CEO of Ørsted, and new member of the Executive Board. The EPC & Operations area will bring together the EPC, offshore operations, and bioenergy organizations from the current Offshore and Markets & Bioenergy organisations. EPC & Operations will be headed by a Chief Operating Officer (COO). The search for this role is ongoing. CEO Mads Nipper will lead the area until the position has been filled. Onshore will remain a separate business unit. The Onshore business differs from the rest of Ørsted when it comes to its business model and strategic focus and will be best positioned to realise its full potential continuing as a separate business unit. Onshore will continue to be headed by Declan Flanagan.