RWE’s supervisory board has named the management team of its new renewables, grids and retail subsidiary.
In addition to his post as chief executive, Peter Terium (pictured) will also become chief executive of RWE’s subsidiary.
RWE is planning an IPO of the new unit in the second half of 2016.
Chief financial officer Bernhard Günther and human resources executive Uwe Tigges will also work for both the parent company and subsidiary until the IPO.
Current RWE Innogy CEO Hans Bünting will act as the chief operating officer for renewables in the new unit.
Current chairman of RWE East, Martin Herrmann, will become COO of retail, and Hildegard Müller COO of grids. Müller recently left her post as chairwoman of the German association of energy and water industries BDEW.
Chairman of RWE’s supervisory board Manfred Schneider said: “For the time being, RWE AG and the new subsidiary are two companies under one roof, and this will remain the case at 100% until the IPO. It is thus only logical to put the management of both companies in the experienced hands of Peter Terium.”
Image: RWE
