Vattenfall's Board of Directors has appointed Magnus Hall as the new President and CEO of the Swedish utility, succeeding Øystein Løseth.
Vattenfall’s Board of Directors has appointed Magnus Hall as the new President and CEO of the Swedish utility, succeeding Øystein Løseth.
Hall, who takes on his new position on 1 October, most recently held the position of president and CEO of forest company Holmen, where he worked for 29 years, and the last ten years as President and CEO.
"I am very pleased to have been trusted to lead Vattenfall," said Hall. "At the same time I take on this task with great humility as Vattenfall is a company that has an incredibly important role in society. With its long history and unique position in the energy sector Vattenfall is a company to be proud of and I look forward to being part of building Vattenfall’s future."
Øystein Løseth will remain the President and CEO of Vattenfall until Hall takes on his position, with Løseth expected to stay involved with company until his contract expires in March 2015.
Photo: Magnus Hall, has been appointed as president and CEO of Vattenfall from 1 October 2014.