Vattenfall CEO Steps Down

Magnus Hall will retire on 31 January 2021 at the latest: until then, the Vattenfall Board of Directors has time to find a suitable successor for the head of Vattenfall.

"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," says Lars G Nordström, Chairman of the Board of Directors. According to the company, the change has no impact on the group's existing strategy or financial goals.

Hall himself intends to remain "fully committed" until a successor is found.