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Orsted- AGM 02 March 2020

In general, Ørsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.

Under ITEM 4, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under its guidelines, ECGS no longer approves discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such (legal) requirement in Denmark, ECGS recommends to vote OPPOSE.

Under ITEM 9.1, it is proposed to re-appoint Mr. Thomas Thune Andersen as Chairman of the board of directors. Although he is considered independent, ECGS has concerns over his aggregate time commitments. In view of the above concerns, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.

Under ITEM 11, the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company’s external auditor. In view of the substantial amount of non-audit fees, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.

Finally, ECGS notes that the Company changed its name to Ørsted (formerly DONG Energy) in 2017. The name is a tribute to the Danish scientist H.C. Ørsted, who (among other things) discovered electromagnetism.


Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.


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