Dansk Olie og Naturgas, until now known as DONG Energy, has received shareholders’ approval to change its name to Ørsted, following the company’s exit from the oil and gas business.
The decision, announced in October, was confirmed on October 30, at the extraordinary general meeting of the company, where it was decided to change the company’s name from DONG Energy A/S to Ørsted A/S.
Thomas Thune Andersen , Chairman of the Board of Directors, Ørsted, says: “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. 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.”
As a result of the name change, the company’s ticker symbol is changing to Orsted. The change will take effect at the start of trading on 31 October 2017.
The new name – Ørsted – references the innovative Danish scientist Hans Christian Ørsted (1777-1851). Ørsted spearheaded several scientific discoveries, including the discovery of electromagnetism in 1820, which helped lay the scientific foundation for how today’s societies are powered.
No more Twitter jokes
DONG (now Ørsted) is adamant the new business direction away from fossil fuels is the reason for the name change, and it certainly makes sense given that the old name means “Danish oil and natural gas.”
However, “DONG” is also an English word for a penis, and the company has been a target of multiple jokes on social media.
Asked by a Twitter user whether this was the real reason behind the decision to change the name, the company said: “The abbreviation no longer reflects who we are. But we don’t mind that the penis jokes stop ?.”
We’re sure? The abbreviation no longer reflects who we are. But we don’t mind that the penis jokes stop ?.
— Ørsted (@Orsted) October 27, 2017