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E.ON CEO won't renew contract beyond 2021 - Manager Magazin

Published 21/06/2018, 12:14
© Reuters. FILE PHOTO:  Chief Executive of German utility E.ON Teyssen attends annual shareholders meeting in Essen
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FRANKFURT (Reuters) - E.ON (DE:EONGn) Chief Executive Johannes Teyssen will step down after his current contract expires at the end of 2021, he told a German magazine in an interview.

Teyssen said he will be busy over the next three years with integrating the networks and retail assets of Innogy (DE:IGY), E.ON's German rival which it agreed to break up with RWE (DE:RWEG) earlier this year.

© Reuters. FILE PHOTO:  Chief Executive of German utility E.ON Teyssen attends annual shareholders meeting in Essen

"And then I will stop. I have decided not to renew my contract again, eleven years as CEO are enough," Teyssen was quoted as saying by monthly Manager Magazin in an interview published on Thursday.

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