03 Jan 2018

innogy gauges potential savings after CEO departure

innogy / Reuters

After the sudden departure of CEO Peter Terium, German utility innogy is “reviewing discretionary spending across all segments”, the company says in a press release. The spin-off of energy company RWE says it “reiterates its financial discipline targets”, and will focus its investments on “core activities in the renewables, grid & infrastructure and retail segments”.
In a separate article, news agency Reuters says innogy and RWE shares “took a beating” in December 2017 after the group projected a drop in 2018 earnings. Former CEO Terium left the company a few days after the negative forecast was published.

See the press release in English here, and the Reuters article in English here.

Read the CLEW factsheet Germany’s largest utilities at a glance for more information.

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