RWE Supply & Trading Announces CEO Transition: Peter Krembel Appointed to Succeed Andree Stracke

RWE Supply & Trading Announces CEO Transition: Peter Krembel Appointed to Succeed Andree Stracke credit: RWE

(IN BRIEF) Andree Stracke, the CEO of RWE Supply & Trading, is retiring after 24 years of service. Peter Krembel, currently the Chief Commercial Officer (Trading), will succeed him. Stracke is praised for his contributions to RWE’s energy trading business, and Krembel is lauded for his understanding of global energy markets. Jacob Meins will take over the responsibilities previously held by Stracke.

(PRESS RELEASE) ESSEN, 29-Feb-2024 — /EuropaWire/ — RWE AG (ETR: RWE), a German multinational energy company, announces that after 24 years of dedicated service, Andree Stracke, Chief Executive Officer of RWE Supply & Trading, bids farewell to the RWE Group today as he embarks on his well-deserved retirement. As part of the planned succession, Peter Krembel, the current Chief Commercial Officer (Trading), will step into the role of Chief Executive Officer.

Markus Krebber, Chief Executive Officer of RWE AG, expressed gratitude for Stracke’s invaluable contributions, citing his pivotal role in expanding RWE’s energy trading business globally. Krebber highlighted Stracke’s leadership during critical times, particularly in ensuring Germany’s gas supply amidst the energy crisis. He extended sincere appreciation to Stracke for his decades of exemplary service.

Krebber also expressed confidence in Peter Krembel, emphasizing his extensive experience and deep understanding of the global energy markets. Krembel, who has been a member of the Executive Board since 2015, will continue to lead the trading business as CEO. Additionally, Jacob Meins, appointed Chief Commercial Officer (Origination) in January 2024, will assume responsibility for areas previously overseen by Andree Stracke.

The transition marks a new chapter for RWE Supply & Trading, with Krembel poised to steer the company forward and uphold its legacy of success in the dynamic energy landscape.

RWE is leading the way to a green energy world. With its investment and growth strategy Growing Green, RWE is contributing significantly to the success of the energy transition and the decarbonisation of the energy system. Around 20,000 employees work for the company in almost 30 countries worldwide. RWE is already one of the leading companies in the field of renewable energy. Between 2024 and 2030, RWE will invest 55 billion euros worldwide in offshore and onshore wind, solar energy, batteries, flexible generation, and hydrogen projects. By the end of the decade, the company’s green portfolio will grow to more than 65 gigawatts of generation capacity, which will be perfectly complemented by global energy trading. RWE is decarbonising its business in line with the 1.5-degree reduction pathway and will phase out coal by 2030. RWE will be net-zero by 2040. Fully in line with the company’s purpose – Our energy for a sustainable life.

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