E.ON Supervisory Board to be expanded to support planned integration of innogy

03/12/2019

  • Expansion by six members planned immediately after take-over of innogy
  • Shareholder and employee representatives expected to bring innogy knowhow to the table

Immediately after the successful takeover of innogy, E.ON's Supervisory Board is to be expanded by six to 20 members – for a limited period until its new election in 2023. “For a successful integration, we will also need experience and knowhow from innogy in the Supervisory Board of the new E.ON on both the shareholders' and employees' side,” said Karl-Ludwig Kley, Chairman of the E.ON Supervisory Board.

At E.ON's request, three additional shareholder representatives will initially be appointed by court order shortly after completion of the innogy transaction. Their confirmation is scheduled for the Annual Shareholders' Meeting in 2020.

The three additional employees' seats are to be appointed by representatives of today's innogy. “It is very important to us that the approximately 40,000 employees of today's innogy as well as shareholder representatives are represented on the Supervisory Board of their new company as soon as possible and thus already during the ongoing integration,” said E.ON CEO Johannes Teyssen.

E.ON's Annual Stockholders' Meeting on May 14, 2019 will decide on the joint proposal of the Board of Management and the Supervisory Board to expand the Supervisory Board. In 2023, the size of the Supervisory Board is to be scaled down to twelve members.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.