In connection with the release of Vattenfall's H1 interim report, a tumultuous period impacted by Covid-19, Chief Executive Magmus Hall announces his resignation after having led the utility for a period of six years.

This will take place by Jan. 31, 2021, at the latest, Vattenfall informs in a press statement.

"After many exciting and inspiring years as CEO of Vattenfall I have decided to step down. It has been an incredibly inspiring journey together with engaged colleagues in the executive team and across the company who have all worked hard to take Vattenfall to its current position. Vattenfall is one of the drivers towards a fossil-free energy future and I will remain fully committed until my successor is in place," Hall writes.

According to Chair Nordström, replacement efforts will begin shortly.

"The Board will now start the recruitment process for a new President and CEO with the goal to make a smooth succession. Vattenfall’s existing strategy and financial targets remain unchanged," writes Nordström.

"Through his leadership and his commitment to Vattenfall’s customers and employees and to the energy transition, Magnus Hall has significantly contributed to Vattenfall’s improved position in the market. He leaves a financially stronger and more stable Vattenfall with a clearly defined target - to enable fossil free living within one generation. On behalf of the Board I would like to express our sincere gratitude to Magnus and thank him for his valuable contributions to Vattenfall," he adds.

English Edit: Daniel Frank Christensen

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