Lars Nordstrom announced on Thursday that he will be stepping down as chairman of Vattenfall’s board of directors at the company’s annual general meeting on 28 April.
He was appointed chairman of Vattenfall in 2011 by the Swedish government.
The Swedish government will appoint a new chair for Vattenfall and an announcement will be made as soon as this is done, the company said.
Nordstrom said: “I am glad to have had the great opportunity to be the chairman of Vattenfall.
“To be part of the company’s journey during these recent years has been a real honour and I am very proud of where Vattenfall is today.
“I have served as chairman for 11 years and feel that now is the right time to move on.
“I want to thank the board of directors and all employees of Vattenfall who have made this great journey possible.”