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RWE's Supervisory Board decides on long-term succession arrangements for the Executive Board

Essen, 28 April 2020

  • Markus Krebber is to succeed Rolf Martin Schmitz as CEO of RWE by 1 July 2021

At today’s meeting, the Supervisory Board of RWE AG decided that Markus Krebber is to succeed Rolf Martin Schmitz as CEO of RWE AG as of 1 July 2021. Born in Moenchengladbach in 1957, Schmitz has been a member of the company’s Executive Board since 2009 and has led the Group as CEO since 2016.

Werner Brandt, Chairman of the RWE AG Supervisory Board, comments: "It was important to the Supervisory Board to have a robust succession plan in place early on. The appointment of Markus Krebber ensures that RWE's strategic ambition to transform into a leading global player in the renewables sector will be pursued also in the long term. Together, Rolf Martin Schmitz and Markus Krebber have defined the course to develop the Group into a sustainable company that will be carbon-neutral by 2040. This path shall be followed consequently."

After studying economics, Markus Krebber (47) initially worked in management consulting and the financial services sector. He joined RWE in 2012, where he first was responsible for RWE Supply & Trading and has been Chief Financial Officer (CFO) of RWE AG since 2016. Jointly with Rolf Martin Schmitz, Markus Krebber had driven forward the transaction with E.ON in 2018, opening up new future prospects for the RWE Group in times of disruptive transformations within the energy industry.

The formal decision on the appointment of Markus Krebber as CEO of RWE AG by 1 July 2021 will be passed the Supervisory Board at a later date. The succession for Markus Krebber as CFO of RWE AG will be decided by the Supervisory Board in due course. This also applies to the decision on the succession of Rolf Martin Schmitz in his role as CHO and Labor Director of RWE AG, that he will continue to perform in personal union until 30 June 2021.