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E.ON CEO won't renew contract beyond 2021 - Manager Magazin

Reuters

FRANKFURT (Reuters) - E.ON (EONGn.DE) Chief Executive Johannes Teyssen will step down after his current contract expires at the end of 2021, he told a German magazine in an interview.

Teyssen said he will be busy over the next three years with integrating the networks and retail assets of Innogy (IGY.DE), E.ON's German rival which it agreed to break up with RWE (RWEG.DE) earlier this year.

"And then I will stop. I have decided not to renew my contract again, eleven years as CEO are enough," Teyssen was quoted as saying by monthly Manager Magazin in an interview published on Thursday.

(Reporting by Christoph Steitz; Editing by Ludwig Burger)