German energy firm RWE has elected Markus Krebber to succeed Rolf Martin Schmitz as chief executive from 1 July 2021.
Dr. Werner Brandt, chairman of the RWE supervisory board, said it was important to have a “robust succession plan” in place early on.
“The appointment of Markus Krebber ensures that RWE’s strategic ambition to transform into a leading global player in the renewables sector will also be pursued in the long term,” Brandt said.
The chairman added that Krebber would develop the group into a sustainable company that will be carbon-neutral by 2040.
After studying economics, Krebber, 47, initially worked in management consulting and the financial services sector.
He joined RWE in 2012, where he was first responsible for RWE Supply and Trading and has been chief financial officer at RWE since 2016.
The German energy giant has four subsidiaries – RWE Renewables, RWE Generation, RWE Power and RWE Supply & Trading – and a portfolio of around 43GW of generation capacity.
Following the completion of the buyout of E.ON’s renewable energy arm in 2019, RWE has a clean energy generation capacity of around 10GW.
The company intends to further expand this position by investing up to €5bn until 2022 in onshore and offshore wind power, photovoltaics and storage.