Vestas Wind Systems Management

Management criteria checks 3/4

Vestas Wind Systems' CEO is Henrik Andersen, appointed in Aug 2019, has a tenure of 4.25 years. total yearly compensation is €4.63M, comprised of 37.1% salary and 62.9% bonuses, including company stock and options. directly owns 0.014% of the company’s shares, worth €3.33M. The average tenure of the management team and the board of directors is 2.9 years and 3.6 years respectively.

Key information

Henrik Andersen

Chief executive officer

€4.6m

Total compensation

CEO salary percentage	37.1%
CEO tenure	4.3yrs
CEO ownership	0.01%
Management average tenure	2.9yrs
Board average tenure	3.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Henrik Andersen's remuneration changed compared to Vestas Wind Systems's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2023	n/a	n/a	-€612m
Jun 30 2023	n/a	n/a	-€788m
Mar 31 2023	n/a	n/a	-€792m
Dec 31 2022	€5m	€2m	-€2b
Sep 30 2022	n/a	n/a	-€1b
Jun 30 2022	n/a	n/a	-€764m
Mar 31 2022	n/a	n/a	-€563m
Dec 31 2021	€4m	€2m	€134m
Sep 30 2021	n/a	n/a	€692m
Jun 30 2021	n/a	n/a	€861m
Mar 31 2021	n/a	n/a	€772m
Dec 31 2020	n/a	n/a	€765m
Sep 30 2020	n/a	n/a	€485m
Jun 30 2020	n/a	n/a	€507m
Mar 31 2020	n/a	n/a	€604m
Dec 31 2019	n/a	n/a	€704m
Sep 30 2019	n/a	n/a	€640m
Jun 30 2019	n/a	n/a	€513m
Mar 31 2019	n/a	n/a	€607m
Dec 31 2018	€147k	n/a	€684m

Compensation vs Market: Henrik's total compensation ($USD5.07M) is about average for companies of similar size in the BG market ($USD4.12M).

Compensation vs Earnings: Henrik's compensation has increased whilst the company is unprofitable.

CEO

Henrik Andersen (56 yo)

4.3yrs

Tenure

€4,633,284

Compensation

Mr. Henrik Andersen serves as Director of Saxo Bank A/S and Saxo Bank (Switzerland) Ltd. since 2022. He has been Group President and Chief Executive Officer of Vestas Wind Systems A/S since August 1, 2019....

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Henrik Andersen	Group President & CEO	4.3yrs	€4.63m	0.014% € 3.3m
Hans Smith	Executive VP & CFO	1.7yrs	€1.53m	no data
Daniel Patterson	Vice President	no data	no data	no data
Anders Riis	Vice President of Communications	no data	no data	no data
Morten Dyrholm	Group Senior Vice President of Marketing	no data	no data	no data
Javier Diez	Executive VP of Sales & Chief Sales Officer	2.3yrs	no data	no data
Anne Pearce	Executive Vice President of People & Culture	less than a year	no data	no data
Tommy Nielsen	Executive Vice President of Manufacturing & Global Procurement	no data	no data	no data
Anders Vedel	Chief Scientific Advisor	3.5yrs	no data	no data
Danny Nielsen	Senior VP & Country Head	9.6yrs	no data	no data
Christian Venderby	Executive VP of Service & Chief Service Officer	no data	no data	no data
Anders Nielsen	Executive Vice President of Power Solutions	no data	no data	no data

2.9yrs

Average Tenure

54yo

Average Age

Experienced Management: VWSB's management team is considered experienced (2.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Karl-Henrik Sundstrom	Independent Deputy Chair of the Board	3.6yrs	€149.32k	0.00081% € 189.1k
Bruce Grant	Independent Director	4.6yrs	€96.69k	no data
Lena Olving	Independent Director	1.6yrs	€80.15k	0.000030% € 7.0k
Sussie Agerbo	Employee Representative Director	18yrs	€60.88k	0.00032% € 74.7k
Anders Runevad	Chairman of the Board	3.6yrs	€264.50k	0.0040% € 936.0k
Eva Merete Berneke	Independent Director	4.6yrs	€132.50k	0.0017% € 399.2k
Helle Thorning-Schmidt	Independent Director	4.6yrs	€96.69k	0.00027% € 63.0k
Michael Lisbjerg	Employee Representative Director	15.6yrs	€60.88k	0.00041% € 95.7k
Kentaro Hosomi	Independence Director	2.6yrs	€60.88k	no data
Pia Jensen	Employee Representative Director	3.5yrs	€60.88k	0.000080% € 18.7k
Claus Christensen	Employee Representative Director	1.5yrs	€40.79k	0.000050% € 11.7k

3.6yrs

Average Tenure

57yo

Average Age

Experienced Board: VWSB's board of directors are considered experienced (3.6 years average tenure).

Vestas Wind Systems Management

Management criteria checks 3/4

Key information

Recent management updates

Vestas Wind Systems A/S Announces Board of Directors Changes

Vestas Wind Systems A/S Announces Board Changes

Vestas Appoints Anne Pearce as New Chief People & Culture Officer

Kerstin Knapp to Step Down as Vestas' Chief People & Culture Officer

Less than half of directors are independent

Vestas Announces Executive Management Changes

Recent updates

Vestas Wind Systems A/S Announces Board of Directors Changes

Vestas Wind Systems A/S Announces Board Changes

Climate Finance Partnership Fund SCSp, a fund managed by Blackrock acquired 12.5% stake in Lake Turkana Wind Power Limited from Vestas Wind Systems A/S (CPSE:VWS).

Vestas Wind Systems A/S Provides Earnings Guidance for the Year 2024

Vestas Introduces Low-Emission Steel Offering for Wind Turbines

Vestas Wind Systems A/S Revises Revenue Guidance for the Full Year 2023

Vestas Wind Systems A/S Revises Revenue Guidance for the Full Year 2023

Vestas Wind Systems A/S to Report Fiscal Year 2023 Results on Feb 07, 2024

Vestas Appoints Anne Pearce as New Chief People & Culture Officer

Kerstin Knapp to Step Down as Vestas' Chief People & Culture Officer

Second quarter 2023 earnings released: €0.12 loss per share (vs €0.12 loss in 2Q 2022)

Vestas Wind Systems A/S Provides Earnings Guidance for the Full Year 2023

First quarter 2023 earnings released: EPS: €0.01 (vs €0.76 loss in 1Q 2022)

Vestas Wind Systems A/S Maintains Earnings Guidance for the Year 2023

Full year 2022 earnings released: €1.56 loss per share (vs €0.17 profit in FY 2021)

Vestas Wind Systems A/S Omits to Pay Dividend for the Year 2023

Vestas Wind Systems A/S Provides Revenue Guidance for the Full Year 2023

Less than half of directors are independent

Third quarter 2022 earnings released: €0.15 loss per share (vs €0.11 profit in 3Q 2021)

Vestas Wind Systems A/S to Report Q3, 2023 Results on Nov 08, 2023

Vestas Wind Systems A/S Revises Earnings Guidance for the Year 2022

Second quarter 2022 earnings released: €0.12 loss per share (vs €0.09 profit in 2Q 2021)

Vestas Wind Systems A/S Provides Revenue Guidance for the Full Year 2022

Vestas Wind Systems A/S Pioneers First Hydrogen-Powered Offshore Service Vessel

Now 21% undervalued after recent price drop

The AES Corporation (NYSE:AES) acquired 183-MW Delta wind project in Mississippi from Vestas Wind Systems A/S (CPSE:VWS).

Vestas Announces Executive Management Changes

Vestas Wind Systems A/S Introduces the V163-4.5 Mw, Increasing Business Case Certainty by Improving Wind Park Performance and Stability in Wind Power

BP Reportedly Seeks to Buy into 26-GW Asian Renewable Energy Hub

Now 24% undervalued after recent price drop

First quarter 2022 earnings released: €0.76 loss per share (vs €0.06 loss in 1Q 2021)

Less than half of directors are independent

Vestas Completes its First Locally Produced V174-9.5 MW Blade in Taiwan

Vestas Wind Systems A/S Announces Management Changes

Vestas Appoints Danny Nielse as Country Head of Its Market-Leading Business in Australia and New Zealand

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Vestas Wind Systems A/S Proposes Dividend

Vestas Wind Systems A/S Provides Earnings Guidance for the Year 2022

High number of new directors

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age