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UPDATE: E. ON wants to act more quickly with new Executive Board structure

By Jan Hromadko

FRANKFURT (Dow Jones) – With a total reorganization of the Management wants the company E. ON its diversified activities brought under more central control. After two weeks at the top gets CEO John Teyssen three additions to the Board. They are used for newly created areas of E. ON AG be responsible, informed the Düsseldorf Mutual Group on Wednesday.

were appointed to the Board of the once active at Statkraft Jørgen Kildahl Norwegians, by the computer company Hewlett Packard Regine sting coming home as well as the CEO of the German E. ON Energie, Klaus-Dieter Maubach. With the restructuring going consolidating a number of Activities under the responsibility of a board member accompanied. So far the operations were managed by different divisions.

E. ON is also introducing a new management department in which the Activities of the various national units spread across Europe be summarized. This will initially headed by CEO Teyssen until a Another board member is appointed. Teyssen is always the investors nor details of its strategic plan for the development of E. Transactions guilty. In the past two weeks he had hinted , That he can, inter alia, improving the efficiency and would focus on streamlining the business.

Details of the CEO would imagine in the second half, they said. The conversion took place on Wednesday of the Board shows that Teyssen In earnest. The board follows the recent renovation in the years already completed operational restructuring, including the Summary of energy trading in a single unit.

At the stock exchange board came the conversion to good. The E. ON stock moves until 15.35 clock by 3.4% to 26.08 EUR in order and runs better than the broad market.

The E. ON Board will in future even more closely the operational responsible for direct operations and, it was said by the company. In addition to in rapidly changing technical and business environment conditions, the innovation of the Group be strengthened.

The former manager Jorgen Kildahl Statkraft (47 am) for electricity and gas production, the global trading and optimization of the energy industry group across all regions and products be in charge of time. Future they would from a new Board Department centrally. So far, the activities in the Units of E. ON Ruhrgas, E. ON Energie and E. ON Energy Trading conducted.

E. ON Energy Klaus-Dieter Maubach, CEO (48) would be the new created board position for technology guide. Regine Stachelhaus (55) would in all the core business of the Group Executive support functions, especially human resources, IT and purchasing responsibility. As a lawyer it would also for legal and compliance be responsible.

The two board members Christoph Dänzer-Vanotti and Lutz Feldmann be by mutual agreement from the Board . Excrete


Website: www.eon.com
-By Jan Hromadko, Dow Jones Newswires, +49 (0) 69 29 725 103
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(END) Dow Jones Newswires

May 12, 2010 09:55 ET (13:55 GMT)

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