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STEAG reorganizes management team

Fig. 1. Headquarters of the STEAG Group in Essen. Photo: STEAG

Continuity and change go hand in hand at STEAG GmbH, Essen/Germany (Figure 1): Andreas Reichel, Chairman of the Board of Management and Labor Relations Director since 2022, will continue to lead the energy company. Nicole Hildebrand and Dieter Dehlke are new members of the Board of Management. This was decided at the first Supervisory Board meeting on 19th January 2024 following the sale of STEAG to the Spanish infrastructure investor Asterion Industrial Partners.

Following the recently completed sale of STEAG to Asterion, the number of shareholders has been reduced from six to just one. The size of the Supervisory Board is therefore also being reduced. In future, the board will have twelve members, comprising six from shareholder Asterion and six representatives of the employees. At the end of December 2023, Asterion acquired all the shares in STEAG from six municipal utilities in the Ruhr region.

At its meeting the newly formed STEAG Supervisory Board elected Philip Wack, managing director of the investment company Moonlake Capital Ltd. and member of the Industrial Advisory Board at Asterion, as Chairman. Michael Vassiliadis, Chairman of the German Mining, Chemical and Energy Industrial Union (IG BCE) and long-standing member of the STEAG Supervisory Board, was elected as his deputy. Wack is also Chairman of the Supervisory Boards of the two operating subsidiaries STEAG Power and Iqony.

At its first meeting, the new Supervisory Board of STEAG GmbH made groundbreaking personnel decisions. Nicole Hildebrand, a partner at owner Asterion, was appointed to the management boards of STEAG GmbH and the two operating subsidiaries STEAG Power GmbH and Iqony GmbH. Andreas Reichel and Ralf Schiele are also members of all three management boards. These multiple appointments ensure the best possible coordination of the STEAG Group’s operational and strategic management. As a partner at STEAG’s new owner Asterion, Hildebrand is responsible for the energy business.

Dieter Dehlke has been appointed as the new Chief Financial Officer (CFO) of STEAG GmbH. He has more than three decades of relevant professional experience in corporate finance, e. g. at the industrial groups Preussag, Siemens, Babcock Borsig and various companies in the maritime industry. Most recently, he was CFO of HWP Handwerkspartner AG.

The four-member STEAG Board of Management is completed by the current Chairman Reichel, whose appointment has been extended until 2026. Schiele, whose contract also runs until 2026, will remain COO and Managing Director of STEAG GmbH. “I am grateful for the trust expressed by this decision and look forward to continuing the successful transformation of STEAG Power and Iqony at an accelerated pace together with the established team, the new colleagues on the management board and Asterion as the new owner,” said Reichel (STEAG/Si.)