Uniper boss announces resignation

The previous CEO Maubach has announced his resignation, and other board members are also leaving.

The CEO of the ailing gas trading group Uniper, Klaus-Dieter Maubach, is resigning from his post. Uniper announced this today in a mandatory notification. Maubach has explained to the Uniper Supervisory Board that he will make use of his special right of termination due to the majority takeover of Uniper by the federal government and will resign as a member of the Uniper Management Board this year. At the same time, Maubach declared his willingness to continue in office until a suitable successor had been appointed. Maubach had been head of Uniper since the end of March 2021.

The Chairman of the Supervisory Board, Tom Blades, paid tribute to Maubach’s work in a statement. The outgoing CEO led Uniper through the existential crisis triggered by Russia last year. “The stabilization of the company has been successful, for which I owe him a big thank you, which I would like to express on behalf of the entire Supervisory Board. We welcome the fact that Klaus-Dieter Maubach is willing to lead the Management Board until an orderly successor is secured,” it said continue.

COO Bryson is also leaving

In addition to Maubach, Uniper’s Chief Operating Officer (COO) David Bryson also announced his departure from the Uniper Management Board, citing his special right of termination. Until a suitable successor is secured, Bryson will continue in office. Bryson has been a member of the Board of Directors since November 1, 2019.

Maubach stated that he was “happy and relieved that the extensive stabilization measures for Uniper had been agreed”. With the entry of the federal government as the new majority shareholder, a new phase begins. “A strategic realignment of the company will have to take place, and there is no time to lose. I am convinced that now is the right time to clear the way for a new management board team that will tackle the new challenges even after the end of the stabilization measures “, says Maubach.

Supervisory Board is looking for a new Management Board team

According to the Uniper Supervisory Board, it is working on “completely reorganizing” the Management Board team. This reorganization will be necessary because three of the four board members will leave the company this year with the well-known farewell to CFO Tiina Tuomela and today’s announcement. The contract of the remaining board member Niek den Hollander also expires at the end of May 2023. Therefore, the Supervisory Board is now examining all options.

“The company is in a phase of realignment so that it can fulfill its role in a changed energy world. This process, which has already been started by the previous board, must now be consistently continued,” explained Chief Controller Blades. The Uniper Supervisory Board is already working flat out to set up the new Management Board team. “We are very confident that we will be able to announce more about the replacements soon.”

Important group in the energy sector

The Uniper Group, based in Düsseldorf, employs around 7,000 people and plays an important role in Europe’s energy supply. Uniper’s core businesses are global energy trading, a broad gas portfolio and power generation in Europe. Uniper procures gas – also in the form of liquefied natural gas (LNG) – and other energy sources on the world markets. The company owns and operates gas storage facilities with a capacity of more than seven billion cubic meters.