Top Stories
Uniper CEO to resign due to government takeover
Published by Uma Rajagopal
Posted on January 10, 2023
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Uma Rajagopal
Posted on January 10, 2023
BERLIN (Reuters) – Uniper Chief Executive Klaus-Dieter Maubach plans to resign this year due to the nationalisation of the embattled utility by the German government, the firm said in a statement on Tuesday.
Maubach and Chief Operating Officer David Bryson are exercising their special right of termination in the event of a change of ownership and are planning to step down, Uniper said.
They will both continue performing their duties until suitable replacements have been appointed, it said, adding that the supervisory board has already begun the succession process.
Tuesday’s announcement hardly comes as a surprise, following the reshuffling of the supervisory board last year with the departure of representatives from former majority shareholder Fortum.
Chief Financial Officer Tiina Tuomela’s departure at the end of March was also announced last year, while Chief Commercial Officer Niek den Hollander’s contract expires as scheduled at the end of May 2023, Uniper said in a statement.
“The Uniper Supervisory Board is already working full steam to put the new Management Board team in place, and we are very confident we will be able to announce more about the replacements soon,” said supervisory board chairman Tom Blades.
The Berlin government in December completed a 34.5 billion euro ($36.55 billion) bailout of Uniper, following European Commission approval, a nationalisation made necessary because of Uniper’s exposure to surging gas prices following Russia’s invasion of Ukraine.
(Reporting by Tom Kaeckenhoff; Writing by Miranda Murray; Editing by Madeline Chambers, Kirsten Donovan)