Vattenfall names Magnus Hall as its new President and CEO

by Search Gate staff. Published Thu 08 May 2014 21:51
Vattenfall names new CEO
Vattenfall names new CEO

Vattenfall's Board of Directors has appointed Magnus Hall as the new President and CEO of the Swedish-based energy company. He will succeed Øystein Løseth and take on his new position from October 1.

Magnus Hall 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. 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,” Magnus Hall said.

In accordance with the Board's recruitment requirements both external and internal candidates were considered for the position. Leading criteria in recruitment process have been a long experience of a leading position in the industrial sector and documented excellent leadership skills.

“Magnus Hall has a strong industry background and extensive experience as CEO with an international company. The Board is delighted to announce the recruitment of Magnus Hall”, Lars G Nordström, Vattenfall’s Chairman of the Board of Directors, commented.

Øystein Løseth will remain the President and CEO of Vattenfall until Magnus Hall takes on his position.

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