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Marc Spieker to Become E.ON’s New Chief Financial Officer

Source: www.gulfoilandgas.com 12/16/2016, Location: Europe

At its meeting today, the E.ON Supervisory Board appointed Marc Spieker (41) member of the Board of Management and future Chief Financial Officer (CFO) of E.ON SE. He will join the Board on January 1, 2017 to take over as CFO from Michael Sen on April 1, 2017 who will then leave the company.

Marc Spieker has been with E.ON for almost 15 years. Apart from various roles in Finance at Group Management, he held several positions for E.ON in Sweden and Spain before taking over Investor Relations. Most recently, Marc Spieker was in charge of the One2Two project as part of the realignment of the Group, which was completed successfully with the Uniper spin-off in autumn of this year.

“Marc Spieker has worked very successfully for E.ON over many years. Under his leadership a number of important Group projects were successfully implemented. Most recently he played a key role in the strategic repositioning of the company. His extensive experience makes him an excellent choice for the role of CFO and a great asset for the Board,” said Supervisory Board Chairman Karl-Ludwig Kley. “This appointment to the role of CFO will guarantee a seamless transition. It clearly shows that E.ON can draw on in-house talent and rely on a strong team,” he added.

Moreover, the E.ON Board of Management has today informed the Supervisory Board that, following the successful listing of Uniper, the final and concluding step, which is the outstanding agreement on relinquishing control over the company and the resulting deconsolidation, will already take effect at the end of 2016. From the end of this year, the majority of the members of the Uniper Supervisory Board will thus be independent from E.ON. The new Supervisory Board members are to be appointed by the court. In the long term the only E.ON representative on Uniper’s Supervisory Board will be Marc Spieker, the new CFO. In future, Uniper will appear on E.ON’s balance sheet only as an associated company (at equity). This will lead to another reclassification of the way Uniper is shown on the E.ON balance sheet and to a reversal of all foreign currency losses associated with Uniper, particularly from its business in Russia (so-called “Other Comprehensive Income”). This entry has to be technically reported as additonal loss in the income statement for 2016. But it will have no impact on E.ON's equity or cash.

“I am delighted that E.ON will complete the realignment of the Group still this year. Michael Sen has played a pivotal role in making this happen. He will close this chapter with the 2016 balance sheet, which will be drawn up under his oversight, before handing over the baton to Marc Spieker in spring next year and taking on an interesting new responsibility on the Managing Board of Siemens AG,” Karl-Ludwig Kley said.

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