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EnBW Supervisory Board appoints Andreas Schell as the company’s new CEO – taking office in the course of the 4th quarter

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EnBW Supervisory Board appoints Andreas Schell as the company’s new CEO – taking office in the course of the 4th quarter (Copyright: Rolls-Royce Power Systems)

Stuttgart. At its extraordinary meeting today, the Supervisory Board of EnBW AG appointed Andreas Schell (52), currently Chief Executive Officer at Rolls-Royce Power Systems in Friedrichshafen, as Chief Executive Officer of EnBW AG, for a period of three years. Andreas Schell will take up his new position during the fourth quarter. He succeeds Frank Mastiaux (58), who announced last year that, after ten years at the helm of EnBW, he would not be renewing his contract, which expires at the end of September 2022.

Andreas Schell, who has a master’s degree in mechanical engineering with a specialisation in energy systems engineering, began his career in 1996 at Daimler-Chrysler in Stuttgart, Germany, before moving in 2009 to UTC Aerospace Systems in Charlotte, USA, where he held various executive positions. He was appointed CEO of Rolls-Royce Power Systems in 2017. Under his leadership, the company transformed from a traditional manufacturer of diesel and gas engines to a provider of integrated, sustainable power solutions, including complete energy systems. The focus of that transformation was on consistent alignment of the company and its products to the needs of the energy and mobility transition, with the emphasis on systematic decarbonisation and digitalisation.

Lutz Feldmann, Chairman of the EnBW Supervisory Board: “This compelling transformation is comparable in logic and pace to the change process at EnBW. In order to achieve our own ambitious growth targets, that process has to continue in the years ahead with the same intensity and undiminished speed as was successfully accomplished under the leadership of Frank Mastiaux. With this in mind, we are delighted to have gained, in Andreas Schell, an internationally experienced top manager who pursues a strategically consistent approach, is capable of successfully and very efficiently shaping radical corporate transformations and is also very well versed in the challenging markets of the energy and mobility transition. We are confident that, under his leadership, EnBW will continue to develop its competitiveness and successfully take advantage of the diverse market opportunities at home and abroad.”

Andreas Schell: “EnBW has impressively transformed into a high-performance, modern energy group that has developed numerous innovative energy and infrastructure solutions and today occupies a broad-based and strong position in promising markets. Together with the Board of Management team and EnBW’s workforce, we will consistently follow this established strategic direction. At the same time, I want to keep the company well positioned for the future with regard to current issues such as the supply situation for our customers. I very much look forward to this challenging and exciting role and, above all, to working together with the EnBW team and our stakeholders.”

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About EnBW

EnBW is one of the largest energy supply companies in Germany and Europe, with a workforce of some 26,000 employees. It supplies electricity, gas, water together with infrastructure and energy-related products and services to around 5.5 million customers. Installed renewable energy capacity will account for 50 percent of EnBW’s generating portfolio by the end of 2025. This is already having a noticeable impact in terms of reducing CO2 emissions, which EnBW plans to halve by 2030. EnBW aims to attain climate neutrality by 2035.

Further expanding renewables in Germany and selected foreign markets is a central element of EnBW’s growth strategy. Since the beginning of its corporate transformation in 2013, EnBW has invested economically successful nearly €5 billion in its Renewable Energies segment. Around another €4 billion is to be invested by 2025, primarily in further expanding wind and solar energy, meaning that a good 50% of EnBW’s generation portfolio will consist of renewables. EnBW was among the pioneers in offshore wind power with its Baltic 1 offshore wind farm in the Baltic Sea. In January 2020, the company took into operation Germany’s largest offshore wind power project, EnBW Hohe See and Albatros, with a combined capacity of 609 megawatts. The He Dreiht offshore wind farm with a capacity of 900 megawatts will be connected to the grid in 2025. He Dreiht will operate without any state subsidies. In January 2022, bp and EnBW secured a lease option off the east coast of Scotland to develop a 2.9 GW offshore wind farm. The auction win in Scotland is already the second joint success for EnBW and bp. In 2021 – likewise in January – the partners were awarded lease areas for 3 GW in the Irish Sea. The Morgan and Mona projects being developed there will have a total capacity of up to 3 GW.

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EnBW Supervisory Board appoints Andreas Schell as the company’s new CEO – taking office in the course of the 4th quarter
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