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1684222200000 | Press Release

EnBW Supervisory Board resolves to reappoint Thomas Kusterer as CFO

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Thomas Kusterer, Chief Financial Officer

Karlsruhe. At its meeting last Thursday, the Supervisory Board of EnBW Energie Baden-Württemberg AG resolved to reappoint Thomas Kusterer ahead of schedule for a further five-year term as member of the Board of Management.

Originally set to expire on 31 March 2024, his contract will now run for an additional five years from 1 April 2024 to 31 March 2029.

Lutz Feldmann, Chairman of the EnBW Supervisory Board: “As CFO, Thomas Kusterer has successfully steered EnBW through a challenging transformation phase since 2011. He exemplifies a forward-thinking approach, driving the sustainable portfolio reorganization while ensuring the company’s financial stability and aligning finance arrangements with green standards. We very much look forward to continuing our fruitful and trusting collaboration.”

Thomas Kusterer has been EnBW’s CFO since 1 April 2011. His responsibilities include, among others, Accounting and tax, Controlling and Risk Management, Finance, M&A and Investor Relations, Digital finance and transformation, Equity investment management, Purchasing and also Venture Capital.

About Energie Baden-Württemberg AG (EnBW)

With a workforce of some 27,000 employees, EnBW is one of the largest energy supply companies in Germany and Europe. It supplies electricity, gas and water together with infrastructure and energy-related products and services to around 5.5 million customers. In the company’s transformation from a traditional energy provider to a sustainable infrastructure group, the expansion of renewable energy sources and of the distribution and transportation grids for electricity and gas are cornerstones of EnBW’s growth strategy and the focus of its investment spending. Between 2023, and 2025, EnBW plans gross investment totaling €14 billion, largely in accelerating the implementation of the energy transition. EnBW aims for renewables to account for over half of its generation portfolio by as early as the end of 2025 and to phase out coal by the end of 2028. These are key milestones on the way to the company being carbon-neutral by 2035.

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