Essen,
10
October
2019
|
18:35
Europe/Amsterdam

Martin Herrmann resigns from Executive Board of innogy SE

Martin Herrmann, Chief Operating Officer Retail at innogy SE, is resigning from his position and will cease to be a member of the Executive Board of the energy Group at the end of today. This was announced during innogy's Supervisory Board meeting today and within the context of the changeover of the majority shareholder of innogy from RWE to E.ON. The decision was taken by mutual agreement.

Johannes Teyssen, Chairman of the Supervisory Board of innogy SE: "As Chief Operating Officer, Martin Herrmann has expanded innogy's German and international retail business over the past few years, working on a number of digitalisation projects for example to make the company a high-performing and successful part of the innogy Group. In spite of stiff competition, innogy was able to defend its position as market leader in electricity and gas retail in Germany. A large number of awards for customer satisfaction and loyalty are further evidence of the high level of commitment on the part of executives and employees in the retail business under Martin's leadership. On behalf of the entire Supervisory Board I would like to thank Martin for his work and for the spirit of trust in which we have always collaborated".

Martin Herrmann, Chief Operating Officer Retail at innogy SE: "In the past few years we have completely reconstructed the German and international retail business. We reinvented ourselves in order to remain successful. This was a very challenging process but it was worth it in the end. In spite of the stiff competition, we are currently successful on many international markets, and in Germany we are even the clear market leader in terms of electricity and gas customers. I would like to thank the entire retail workforce of innogy, as their great dedication is the foundation of our success. With this mindset, and together with their colleagues at the new E.ON, they will continue to ensure that the focus is always on the customer".

After various positions at Commerzbank, Martin Herrmann joined the RWE Group in May 2002 as a Board member and CFO of (RWE) Transgas. From April 2007, Herrmann headed up the RWE/innogy business in the Czech Republic, most recently as CEO of innogy Česká republika. From 2011 to 2016, he was CEO of RWE East and in October 2015 he took charge of the entire retail business at RWE. In April 2016, Herrmann became Chief Operating Officer Retail at the newly founded company innogy SE in Essen.

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This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.