E.On to expand board for integration of innogy

Immediately after the takeover of innogy, E.On’s Supervisory Board is to be expanded by six to 20 members – for a limited period until its new election in 2023. 

“For a successful integration, we will also need experience and knowhow from innogy in the Supervisory Board of the new E.On on both the shareholders’ and employees’ side,” said Karl-Ludwig Kley, Chairman of the E.On Supervisory Board.

At E.On’s request, three additional shareholder representatives will initially be appointed by court order shortly after completion of the innogy transaction. Their confirmation is scheduled for the Annual Shareholders’ Meeting in 2020.

The three additional employees’ seats are to be appointed by representatives of today’s innogy. “It is very important to us that the approximately 40,000 employees of today’s innogy as well as shareholder representatives are represented on the Supervisory Board of their new company as soon as possible and thus already during the ongoing integration,” said E.On CEO Johannes Teyssen.

E.On’s Annual Stockholders’ Meeting on May 14, 2019 will decide on the joint proposal of the board of management and the supervisory board to expand the supervisory board. In 2023, the size of the supervisory board is to be scaled down to twelve members.

 

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