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    Finnish Fortum Makes Changes at Uniper

Summary

New CEO, CFO are former Fortum executives.

by: Dale Lunan

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Complimentary, Natural Gas & LNG News, Europe, Corporate, Corporate governance, Appointments, Finland, Germany

Finnish Fortum Makes Changes at Uniper

Finnish state utility Fortum, which acquired a majority stake in Germany’s Uniper in 2020, installed its own picks as the subsidiary’s CEO and CFO with immediate effect on March 29.

It said as it announced the changes that while strategy execution in these areas is now underway, Fortum believes more benefits can be realised and achieved faster within the current set-up through deeper integration across Fortum Group’s and Uniper’s functions and businesses.

CEO Markus Rauramo said: "While we have been making some progress with Uniper, I believe we can and need to do more to deliver both the agreed and additional cooperation benefits and to create value for both companies and the whole group. As such, we will now start taking concrete steps towards working in a much more integrated manner in our operations.”

Klaus-Dieter Maubach will become Uniper’s new CEO, replacing Andreas Schierenbeck, who has agreed to leave with immediate effect, while Tiina Tuomela takes over as CFO from Sascha Bibert, who also leaves Uniper March 29. Uniper said that the two had "successfully set the course for the strategic realignment [with Fortum] and increasing decarbonisation of the company."

Maubach brings decades of experience in the German and European energy industries and has served as Uniper’s supervisory board chair and on Fortum’s board.

Tuomela has extensive experience from various senior finance and business leadership roles in energy and has headed Fortum’s generation division since 2016. She has been on Fortum’s executive management team since 2014 and on Uniper’s supervisory board since 2020 – a position she will now relinquish. David Bryson will continue to serve as Uniper's COO.