Vattenfall has promoted the company鈥檚 chief financial officer Anna Borg to CEO.
She will replace the outgoing Magnus Hall from 1 November 2020.
Hall announced his intention to leave the company earlier this summer.
Vattenfall will start an immediate search for a new CFO.
Borg has been Vattenfall鈥檚 finance chief since 2017, and previously served as the energy company鈥檚 senior vice president for business area markets, and led the Nordic sales, Swedish heat and European business-to-consumer units.
She had previously been senior vice president of the Nordics at Swedish bank Klarna.
Vattenfall鈥檚 chairman Lars Nordstr枚m said: 鈥淎nna Borg has a broad and deep experience that makes her very well suited to be CEO at Vattenfall.聽
鈥淪he has been involved in setting the company's new strategic direction and is the right person to now take on and continue its execution.聽
鈥淎nna is a good leader and knows Vattenfall and the energy sector from many years as an employee, manager and member of the executive group management.鈥
When Borg鈥檚 predecessor Magnus Hall announced his planned departure earlier this summer, he said key challenges for Vattenfall鈥檚 next CEO would be maintaining competitiveness in offshore wind and picking strategic markets for the developer and assessing whether the company should invest heavily in green hydrogen.
Under Hall鈥檚 leadership, Vattenfall built up an impressive portfolio of offshore wind projects, and was a prime mover in cutting costs to the point where the sector could operate without subsidies.
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