EnBW chief executive Frank Mastiaux is to leave the German energy company, when his second term as CEO expires in September 2022.
The company said that Mastiaux (pictured) had informed the nomination committee of the EnBW supervisory board of his decision on 24 June.
Mastiaux said: “In recent years, EnBW has successfully reshaped itself along the lines of a long-term plan, consistently focusing on the requirements of the modern energy world.
“From a position of renewed strength, EnBW has now entered a period of sustainable growth in the years to come.
“The course for this has been set. This is the right time for me to hand over my office to other hands when my second term of office expires next year and to devote myself to new issues and challenges.
“I have not yet decided exactly what this will be, because my top priority is to continue my work as CEO of EnBW.”
EnBW supervisory board head Lutz Feldmann said: “Under the leadership of Frank Mastiaux, EnBW has successfully and exemplarily implemented a very difficult restructuring and at the same time opened up promising new prospects for the future.
“Not least in view of this pleasingly positive development, the supervisory board very much regrets Mr Mastiaux’s decision, but naturally respects and accepts it.
“We will set the process of succession in motion promptly, for which sufficient time has been given.”