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CEO Christian Rynning-Tønnesen to step down

Written by Customer Service on . Posted in Public Companies.

(Oslo, 10th October 2023) CEO Christian Rynning-Tønnesen has informed the Board of Directors (BoD) of Statkraft AS that he wishes to step down after almost 14 years of leading the company. The BoD will now initiate a process to find a new CEO. Mr. Rynning-Tønnesen will remain President and CEO until further notice.

“I would like to thank Christian for his leadership and contributions to Statkraft. Statkraft has become Europe’s largest producer of renewable energy and a leading player in the global energy markets. Statkraft has a robust platform for continued growth, both operationally and financially,” says Chair of the Board of Statkraft AS, Mrs. Thorhild Widvey.

Rynning-Tønnesen assumed the role as President and CEO of Statkraft in 2010. The company has over the last five years delivered an average annual return after tax of 26 percent, including dividend to owner. Statkraft is today one of Norway’s largest companies with an enterprise value of more than MNOK 300.

Statkraft today operates in 21 countries, with focus on Norway and Europe, as well as activity in Brazil, Chile, Peru, India and the US. The company develops and produces renewable hydro-, wind-, and solar power, and is an important partner to Norwegian and international industry. Statkraft has a leading international analysis and markets department and develops new renewable technologies, such as hydrogen and biofuel.

Statkraft has an ambitious growth strategy with the aim to increase its capacity for renewable energy production by 2,500 – 3,000 MW annually from 2025. Statkraft also has the ambition to develop offshore wind in Ireland and Norway as well as in selected markets.

“After almost 14 years as President and CEO, and after careful considerations, I have concluded and informed the Board that it is time to step down. It is a privilege to lead a company that contributes to the green shift through large scale renewable energy development and production. I am proud of what all the employees have achieved and confident that I leave Statkraft fit to deliver on our ambitious growth strategy,” says President and CEO of Statkraft, Christian Rynning-Tønnesen.

For additional information, please contact:

Claus Sonberg, SVP Corporate Communication and marketing in Statkraft
Tel.: +47 92 46 23 93
E-mail: claus.sonberg@statkraft.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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