Board of Directors initiates investigation on alleged payments

Vattenfall's Board of Directors initiates an independent investigation concerning reports that Vattenfall's CEO Øystein Løseth would have received extra remuneration when Vattenfall in 2009 acquired the Dutch company Nuon. Øystein Løseth welcomes the investigation.

- We want to once and for all clarify whether there is any substance in the rumour that Øystein Løseth would have received any additional compensation in connection with the acquisition of Nuon. We therefore, in full consent with Øystein Løseth, set up an independent investigation, says Lars G Nordström, President of the Board of Directors of Vattenfall.

Unconfirmed rumours of additional compensation to Øystein Løseth in connection with the acquisition of Nuon have circulated earlier. But since named sources of information now have been quoted in media an investigation is to be initiated.

- We want everybody to feel confident that the matter is thoroughly investigated, continues Lars G Nordström.

The person who will lead the investigation will soon be announced.

- I welcome an investigation that can put an end to this rumour. It is difficult to single-handedly defend oneself against these accusations when no data is presented. I want to clarify that I have not received any extraordinary benefits. In connection with the transition I received regular compensation in the form of salary, bonus and pension. The payments are reported in Vattenfall's and Nuon’s Annual Reports, says Øystein Løseth.

For more information, please contact:
Vattenfall's press office +46-(0)8-739 50 10, press@vattenfall.com

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