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Vattenfall: New CEO named within weeks

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Vattenfall: New CEO named within weeks
11:18 CET+01:00
The Swedish enterprise minister Maud Olofsson confirmed on Friday morning that the board of state-owned energy giant Vattenfall has begun the search for anew CEO to replace under-fire Lars G Josefsson.

"It won't be today, but within a couple of weeks," confirmed Vattenfall chairperson Lars Westerberg to the TT news agency.

Olofsson had revealed at a press conference earlier on Friday that the process to recruit Josefsson's successor had begun began some time ago.

"We need to have a new CEO who can live up to the goals we have for Vattenfall, concerning the shift to green technologies and results. We need stability at Vattenfall," she said according to the Dagens Nyheter newspaper.

"The Vattenfall brand is badly damaged now, but some of the information that has come out has not been correct," Olofsson said, adding that Vattenfall has for example no plans to sell the electricity grid.

Lars G Josefsson is scheduled to retire next autumn and so the work to reform Vattenfall and restore its image will be undertaken by another CEO, Olofsson pointed out.

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