DONG Energy will start trading under the ticker symbol Orsted as of 31 October, after the shareholders approved the plan to change the company’s name to Ørsted.
The company formally decided on the name change at the Extraordinary General Meeting held today, 30 October.
The offshore wind giant changed its name following the sale of its upstream oil and gas business to INEOS on 29 September and the decision to shift to green energy.
While the acronym DONG, standing for Dansk Olie og Naturgas (Danish Oil and Natural Gas), went in line with the company’s business in the past, the name no longer fits the renewable energy player.
“I’m delighted that the shareholders clearly supported changing the company’s name to Ørsted. The reason for the name change is that after the comprehensive strategic transformation from black to green energy, our old name no longer matched the company,” said Thomas Thune Andersen , Chairman of the Board of Directors.
“ Ørsted is a signal of our Danish roots – and our vision of creating a world that runs entirely on green energy. The new name has already been well received in Denmark and abroad.”
The company is also changing its visual identity and is launching a new logo.
The roll out of the new name and design across DONG Energy’s markets will begin on 6 November.