Krogsgaard had served as co-CEO of the joint venture between Mitsubishi Heavy Industries (MHI) and Vestas since 1 April 2018.
He had been "instrumental" in the company’s expansion into Asia and the US, board chairman Anders Runevad said.
Krogsgaard was appointed alongside Phillipe Kavafyan in January 2018.
MHI Vestas’ new co-CEO Johnny Thomsen (above) spent nearly ten years in senior executive leadership positions at the company, including senior vice president (SVP) for business analysis and performance management and SVP for product management.
"We believe that as MHI Vestas continues its growth into new markets, having a co-CEO that has executive management experience in product strategy and go-to-market planning and execution will ensure that the company will remain at the forefront of the offshore wind industry," said Anders Runevad, chairman of MHI Vestas’ board of directors.