BERLIN Jan 22 EnBW, Germany's No.3
utility, will seek new partnerships and focus on innovation and
becoming more efficient to cope with the country's shift in
energy policy away from nuclear power, its new chief executive
Frank Mastiaux, who took over the top job at EnBW on Oct. 1,
has given himself 100 days to evaluate the group's structure and
come up with a strategy to set it up for the future.
"To me it is clear that the company has to change
significantly," he said at the annual Handelsblatt Energy
Mastiaux will hold a press conference on Feb. 11 to explain
expected changes at the group.
Along with larger rivals E.ON and RWE,
EnBW has been dealt a massive blow by Germany's decision to
abandon nuclear power by 2022.
As part of that move, which followed Japan's Fukushima
nuclear disaster in 2011, 40 percent of Germany's nuclear
capacity was immediately shut down, including two reactors
operated by EnBW.
Mastiaux said he saw partnerships as an "essential part" of
the group's strategy.
"And this refers to partnerships as we know them as well as
partnerships in an unconventional form," he said, without
Before joining EnBW, 48-year-old Mastiaux worked for energy
groups including BP and E.ON, where he led the group's
renewable operations and international expansion efforts.
EnBW is 46.75 percent-owned by the German state of
Baden-Wuerttemberg. Another 46.75 percent is owned by nine of
the state's municipalities, while just a small fraction of its
shares trade freely on stock markets.
($1 = 0.7510 euros)
(Reporting by Christoph Steitz; Editing by Mark Potter)