E.ON introduces a new Board of Management structure to further enhance the E.ON Group’s market orientation and pave the way for further growth. In addition to a Chief Executive Officer a Chief Financial Officer, and a Chief Human Resources Officer, the Board of Management now has a Chief Operating Officer and a member responsible for Corporate Development/New Markets.
E.ON signs an agreement with Enel, an Italian energy utility, and Acciona, a Spanish construction company, to end the impasse in the attempted takeover of Endesa. E.ON agrees not to acquire a minority stake in Endesa. In exchange, Enel and Acciona agree to make a takeover bid for Endesa. When the two companies acquire control of Endesa, E.ON will have the opportunity to acquire an extensive portfolio of assets including operations in Spain, Italy, and France. The transaction is expected to close in 2008.
The E.ON Energy Research Center, a partnership between E.ON and RWTH Aachen University in western Germany, begins operations. E.ON will provide the center with about EUR40 million in funding for the next ten years. Energy efficiency and climate protection are at the center of E.ON’s enhanced research and development effort.
11/21/2008 16:01 h