T&D

EU approves E.On takeover of innogy

Following the European Commission’s clearance of the takeover of innogy, E.On intends to swiftly carry out the integration of innogy into the group.

“The new E.On’s future begins today. The integration of innogy will create a company fully dedicated to putting customers at the center of everything it does. We want to partner with our customers to actively shape the new energy world while becoming more innovative, using energy with ever-greater efficiency, and making an effective contribution to climate protection,” E.On CEO Johannes Teyssen said.

The European Commission’s clearance is linked to various commitments by E.On to exit certain businesses. These include innogy’s electricity and gas retail business in the Czech Republic and part of E.On’s electricity retail business in Hungary.

The commitments in Germany relate primarily to a significant part of E.On’s heating electricity business, and the construction and operation of a number of electric-vehicle charging stations on motorways.

As decided at E.On’s annual shareholders meeting in May 2019, after E.On completes the takeover of innogy, the E.On supervisory board will be increased to 20 members.

The shareholder representatives to be proposed by E.On for court appointment are Rolf Martin Schmitz, CEO of RWE, as well as entrepreneur Ulrich Grillo and U.S. management consultant Deborah B. Wilkens, both of whom are currently still members of the innogy supervisory board. In addition, Monika Krebber, Stefan May and René Pöhls will become members of the E.On supervisory board as innogy employee representatives.

The new E.On will continue to be led by the current members of the company’s management board. The E.On supervisory board reaffirmed its earlier decision for Johannes Teyssen to continue to lead the company as CEO. The supervisory board also confirmed Leonhard Birnbaum, Thomas König, Marc Spieker, and Karsten Wildberger as members of the E.On SE management board. It extended CFO Marc Spieker’s contract by five years, until the end of 2024.

E.On has now also filled the future executive positions that are competitively sensitive and has thus appointed almost the entire level of management below the management board. As was the case for those selected in June, the newly appointed executives also come in almost equal parts from E.On and innogy.

Victoria Ossadnik will be appointed as the CEO for sales and customer solutions in Germany. Katherina Reiche (currently chief executive of the German Association of Local Public Utilities, VKU) will head up one of the largest and most important operational units in E.On’s German grid business from January 2020 on.

As planned, the new E.On will be based in Essen, and the Brüsseler Platz office tower will remain its corporate headquarters.