Vattenfall announces shifted corporate structure

Vattenfall on Thursday announced a new organizational structure and executive management team as key steps in ensuring the right structure to support Vattenfall’s future strategy. The new structure will take effect on April 1, 2015 and will replace the current regional structure.

Vattenfall’s new organizational structure is part of the current review of the group’s strategy. The new strategy is being developed in a stepwise approach to be determined and defined by the new executive management team.

The new organization adheres to the board’s general strategic direction and will replace the current regional structure. Effective 1 April Vattenfall will be organized in six new business areas: heat, wind power, customers & solutions, distribution, power generation and markets.

The new organizational set-up will comprise four corporate staff functions: CFO function, legal, strategic development and human resources. In addition, Vattenfall’s lignite mining and generation operations will be organized in a separate unit reflecting Vattenfall’s ambition to find a new ownership structure for the lignite coal business.

With the new organization a new executive management team will be in place as of 1 April to reshape the organization while ensuring continuity. A key task for the new executive management team will be to develop the details of the new strategy and adapt it to each business area.

Vattenfall’s new executive management team:

·      Magnus Hall, president and CEO

·      Ingrid Bonde, head of staff function finance and deputy CEO

·      Anne Gynnerstedt, head of staff function legal & CEO office

·      Andreas Regnell, head of staff function strategic development

·      Kerstin Ahlfont, head of staff function human resources

·      Tuomo Hatakka, head of business area heat, mining & generation

·      Annika Viklund, head of business area distribution

·      Gunnar Groebler, head of business area wind

·      Torbjörn Wahlborg, head of business area generation

·      Martijn Hagens, head of business area customers & solutions

·      Stefan Dohler, head of business area market

Vattenfall’s Business Areas as of April 1:

Heat — provides district heating to customers in Germany, Netherlands, Denmark and Sweden and produces electricity with high efficiency. Europe’s largest supplier of heat.

Wind — with 1,000 wind turbines installed in Denmark, Germany, Netherlands, Sweden and UK. Vattenfall is one of the biggest off shore wind developers in Europe.

Customers & Solutions — with more than 6 million electricity customers in Finland, France, Germany, Netherlands and Sweden. Offers different solutions to increase consumers sustainability.

Distribution — connects electricity customers to the grid through big networks in Sweden and Berlin.

Generation — operates and develops Vattenfall’s vast resources of emission free electricity production consisting of hydro and nuclear power.

Markets — the energy trading business of Vattenfall, covers all energy-related commodities and provides exceptional wholesale market support to internal and external customers in Europe.

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