Vestas Wind Systems A/S, Aarhus, 15 January 2025
Company Announcement no. 01/2025

Vestas is pleased to announce that Jakob Wegge-Larsen will become Chief Financial Officer (CFO) at Vestas and member of Executive Management. He is expected to take up the position as CFO during the second quarter of 2025.

Jakob Wegge-Larsen joins Vestas from DB Schenker where he currently serves as CFO and member of the Management Board. Prior to becoming CFO at DB Schenker in 2023, Jakob obtained extensive international experience through global and regional CFO roles within the Maersk Group, Hamburg Süd, and MSC Denmark.

Vestas President and Chief Executive Officer, Henrik Andersen, says "I am thrilled that Jakob Wegge-Larsen will join Vestas as our next CFO following a rigorous process. Jakob will spearhead our Finance organisation as we aim to achieve our long-term target of double-digit profitability and I am confident his extensive experience from several large, global companies will be instrumental for our continued progress. I would also like to thank Rasmus Gram on behalf of the Board and the Executive Management team for the great job he is doing as interim CFO".

Vestas' incoming CFO, Jakob Wegge-Larsen, says "I am truly excited to join Vestas at a point where the world needs energy more than ever, and collaborate with the Executive Management team and my other 30,000 new colleagues to ensure Vestas plays a key role in meeting the world's energy needs. Having spent more than 20 years within logistics and shipping, I look forward to using my experience from global businesses to help Vestas continue its upwards trajectory. I would like to thank Henrik and the Board for their confidence as I'm about to begin this new, exciting chapter".

Rasmus Gram will continue as interim CFO until Jakob Wegge-Larsen starts and conduct a thorough handover as part of Jakob's induction.

Jakob Wegge-Larsen is 48 years old, holds an MBA from Henley Business School in the UK, and lives in Denmark with his wife and two kids. Detailed biography is attached as an appendix. Jakob succeeds Hans Martin Smith who left Vestas in December 2024 to pursue new challenges after more than 20 years at Vestas, ref. Company Announcement no. 20/2024.

Contact details
Vestas Wind Systems A/S, Denmark

Investors/analysts:
Daniel Patterson, Vice President
Investor Relations
Tel: +45 2669 2725

Frederik Holm Jacobsen, Senior Specialist
Investor Relations
Tel: + 45 2835 3365

Media:
Anders Riis, Vice President
Communications
Tel: +45 4181 3922

Biography for Jakob Wegge-Larsen

Born:                1976
Nationality:        Danish
Resident:          Copenhagen, Denmark

Education
2013                 Henley Business School - Master of Business Administration
2001                 Zealand Business College - Graduate Diploma, Accounting

Former positions
2023-2025        Member of the Management Board & CFO, DB Schenker (Germany)
2020-2023        CFO, Maersk Ocean and Logistics (Denmark)
2017-2020        CFO and member of Executive Board, Hamburg Süd (Germany)
2014-2017        Business CFO, Maersk Line Operations (Denmark)
2008-2014        Regional CFO, MSC Denmark A/S (Denmark)
2000-2008        Various positions within the Maersk Group (Singapore, Holland & Denmark)
1996-2000        External auditor, Ernst & Young (Denmark)

Fiduciary positions
Member of the Board of Køge Private School (Denmark).