Wind developer Ørsted bosses exit after £3bn-plus failure

World's biggest wind power firm reported heavy losses after cancelling two US projects

The world's biggest offshore wind developer, Denmark's Orsted, has lost two of its most senior executives after it abandoned a pair of windfarm projects off the US coast at a cost of more than 3bn.

Orsted told investors that its chief financial officer, Daniel Lerup, and chief operating officer, Richard Hunter, had agreed to step down from their roles with immediate effect because the company needed new and different capabilities".