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CEO of nationalized German gas supplier Uniper to step down

KIFI

BERLIN (AP) — The CEO of energy company Uniper has decided to step down after the German government nationalized the gas supplier last month. Uniper said Tuesday that Klaus-Dieter Maubach is exercising a special right to terminate his contract and will leave the board this year. It added that Maubach is willing to stay in the job he has held since March 2021 until a suitable replacement is appointed. The German government announced its plan to nationalize Uniper in September, expanding state intervention in the energy sector to prevent a shortage resulting from Russia’s war in Ukraine. Shortly before Christmas, it took a stake of some 99% in the company. Uniper’s existing management remained in place.

Article Topic Follows: AP National Business

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