Vattenfall Chief steps down

In: Windfarms
21/07/2020

After nearly six years as President and CEO Magnus Hall has decided to leave Vattenfall. The Board of Directors will now initiate the recruitment process to find a new President and CEO. Magnus Hall will leave Vattenfall at the latest on January 31, 2021.

"After many exciting and inspiring years as CEO of Vattenfall I have decided to step down. It has been an incredibly inspiring journey together with engaged colleagues in the executive team and across the company who have all worked hard to take Vattenfall to its current position. Vattenfall is one of the drivers towards a fossil-free energy future and I will remain fully committed until my successor is in place," says Magnus Hall.

"Through his leadership and his commitment to Vattenfall’s customers and employees and to the energy transition, Magnus Hall has significantly contributed to Vattenfall’s improved position in the market. He leaves a financially stronger and more stable Vattenfall with a clearly defined target - to enable fossil free living within one generation. On behalf of the Board I would like to express our sincere gratitude to Magnus and thank him for his valuable contributions to Vattenfall," says Lars G Nordström,

"The Board will now start the recruitment process for a new President and CEO with the goal to make a smooth succession. Vattenfall’s existing strategy and financial targets remain unchanged," says Lars G Nordström, Chairman of the Board of Directors.

Vattenfall is one of the biggest offshore wind developers in the world. In The Netherlands, the company is developing the  
Hollandse Kust Zuid 1&2 and Hollandse Kust Zuid 3 & 4 which it secured in separate zero subsidy tenders in March 2018 and July 2019 respectively. Once fully operational, the two Hollandse Kust Zuid sites are anticipated to generate enough power to supply up to three million households with green electricity.

In the UK, Vattenfall recently secured consent for its
Norfolk Vanguard project off the Norfolk coast. In November it is hoping to secure consent for the nearby Norfolk Boreas project. The two arrays would have a combined capacity of 3.6 GW and could be operational from the mid-2020s. The projects' combined capacity is expected to meet the equivalent annual electricity demand today of 2.6 million UK households.

For more information on offshore wind farms worldwide, click here.

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