Klaus Rauscher offers his resignation as Head of Vattenfall Europe

Klaus Rauscher has offered to step down from his position as Head of Vattenfall Europe AG.
Hans-Jürgen Cramer from the German management team will assume the position as acting Head of Vattenfall Europe.

Lars G Josefsson, President and CEO of Vattenfall AB and Chairman of the Supervisory Board of Vattenfall Europe AG, issued a statement in Berlin today with regard to this event: “Klaus Rauscher has provided outstanding service with the merging of Bewag, HEW, Laubag, and VEAG. Under his leadership the company has developed to become a powerful competitor on the German energy market, and today the German business is a central force in the Vattenfall Group. On behalf of the Supervisory Board, but also as a personal tribute, I wish to express my sincerest thanks for his work. I entirely respect his offer to step down from office.”

Klaus Rauscher explained that it cannot be denied that the events of the past few weeks have tarnished the image of Vattenfall Europe. Errors have been made for which he, as Head of Vattenfall Europe, must bear responsibility. The company must now regain the trust which has been lost, in particular with regard to its customers, shareholders, and staff, and it must do so quickly. In order not to get in the way of a new start such as this, he was today stepping down, he said.





For further information, please contact:
Knut Leman, Senior Vice President Communications, phone: +46 (0)70 539 50 01.
Maria Parent, Media Relations Manager, phone: +46 (0)8 739 65 50.


From Vattenfall's Press Office, telephone: +46 (0)8 739 50 10.