After nearly six years as president and chief executive, Magnus Hall is to leave Swedish utility and leading offshore wind developer Vattenfall
His decision comes not long after another industry-leader in the energy and offshore wind industry, Henrik Poulsen, decided to resign. Mr Poulsen resigned his position as chief executive of the world’s leading offshore wind developer, Ørsted, in June 2020.
In a statement, Mr Hall said, “After many exciting and inspiring years as chief executive of Vattenfall I have decided to step down.
“It has been an incredibly inspiring journey together with engaged colleagues in the executive team and across the company who have all worked hard to take Vattenfall to its current position.
“Vattenfall is one of the drivers towards a fossil-free energy future and I will remain fully committed until my successor is in place.”
Vattenfall chairman Lars G Nordström said, “Through his leadership and his commitment to Vattenfall’s customers and employees and to the energy transition, Magnus Hall has significantly contributed to Vattenfall’s improved position in the market.
“He leaves a financially stronger and more stable Vattenfall with a clearly defined target – to enable fossil free living within one generation.
“On behalf of the board I would like to express our sincere gratitude to Magnus and thank him for his valuable contributions to Vattenfall.”
Mr Nordström said Vattenfall’s strategy and financial targets remain unchanged. Mr Hall will leave the company at the latest on 31 January 2021.
The company said its board of directors will now initiate the recruitment process to find a new president and CEO.
Riviera held a series of webinars on offshore wind in June. These are available to view in our webinar library