Uniper share ends trading in the red: Uniper to replace CEO and CFO with immediate effect | 03/30/21


Uniper CEO Andreas Schierenbeck and CFO Sascha Bibert have to leave the supplier with immediate effect.

The company announced that the supervisory board had reached an agreement with both managers about their departure from the executive board.

The new chairman of the board is the previous chairman of the supervisory board, Klaus-Dieter Maubach. Tiina Tuomela, also a member of the company’s supervisory board, will be responsible for finance. They will resign from their position as members of the Supervisory Board at the end of the Annual General Meeting on May 19, 2021. Until then, they are sent to the board with immediate effect. During the period of their secondment, they will not exercise any activity as a member of the supervisory board. Uniper expects Maubach and Tuomela to continue to exercise their duties on the Management Board after the Annual General Meeting.

Uniper did not provide any information on the reasons for saying goodbye to Schierenbeck and Bibert. However, the majority owner Fortum sent a separate press release in which Fortum announced a greater integration of the German company into a Finnish group. This is necessary in view of the tough competition. In this context, the two previous Uniper board members agreed to their departure.

At the beginning of March, the Düsseldorf-based energy supplier had rejected internal conflicts with its Finnish majority shareholder Fortum over the dividend policy that was still open this year. “To speak of noise or confrontation are clearly the wrong signals,” said Uniper boss Schierenbeck at the time. “We have a very good, constructive cooperation with Fortum.” However, the determination of a dividend is a matter for the general meeting and the owner. The group had previously announced that it would communicate its dividend policy for the 2021 financial year “at a later date”. “Talks about the dividend policy and the timing of the publication of the dividend policy with the major shareholder Fortum continue,” it said at the time.

Markus Rauramo has now been appointed as the new head of the supervisory board, Uniper announced. In view of the imminent departure of Maubach and Tuomela, two new candidates would be proposed to the Annual General Meeting for election to the Supervisory Board. Uniper has not yet given any names.

The Uniper share finally fell in XETRA trading on Tuesday by 2.70 percent to EUR 31.04.


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Uniper share ends trading red Uniper replace CEO CFO effect


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