New Leadership for MHI Vestas

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems have appointed Philippe Kavafyan as CEO and Lars Bondo Krogsgaard as Co-CEO of MHI Vestas Offshore Wind. The appointments will take effect on April 1, 2018.

Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind established itself as a leading player in offshore, with orders from the U.K., Germany, Denmark, Belgium and the Netherlands. With the outlook for offshore wind energy looking positive through the opening of new markets and further reductions in the cost of energy, MHI Vestas Offshore is now increasing its strategic focus on expanding into new markets and further consolidating its position in core markets. Accordingly, as joint venture shareholders, MHI and Vestas sought new leaders, outside of either parent company, with extensive wind experience and knowledge from and familiarity with diverse markets. 

Kavafyan has more than 25 years of experience in the broader energy and technology industries and 12 years in the wind sector, including roles in business development, technical, asset and risk management in Electricité de France, GE and Areva. During the past six years in offshore wind energy, Philippe has successfully worked with offshore wind tenders in France, the first commercial projects in Germany and held the position as Chair of the Board of Adwen Offshore.

Krogsgaard also has extensive wind management experience with DONG Energy (now Ørsted) and Siemens Wind Power. In 2010, he joined Nordex as Chief Sales Officer and was promoted to CEO, growing the company profitably while expanding its global reach.

The appointment of a new CEO is in accordance with the terms of the original joint venture agreement  between MHI and Vestas, which stipulates that after four years there shall be a change in Board of Management and Board of Directors. Additionally, the terms now cede the leadership of the Board of Directors to Vestas.

Vestas has appointed its President and CEO, Anders Runevad, as Chair of the Board, while MHI has appointed its Executive Vice President and Chief Technology Officer and current Chair of MHI Vestas Offshore, Michisuke Nayama, as the Deputy Chair of the Board as of April 1.

After four years leading MHI Vestas Offshore Wind, Tommerup and Mizuno have decided to leave the organization.