Lars G. Nordstrm proposed as new Chairman of Vattenfall

The owner, namely the Swedish state, has proposed Lars G Nordström as the new Chairman of the Board of Vattenfall. An extraordinary meeting will be held on June 14 at which his election will take place.

Lars G Nordström has extensive and solid experience of executive positions in several sectors with a focus on the financial industry. He had a significant influence on the formation of the Nordic bank group Nordea, which merged four major national banks, and was the bank’s President and CEO from 2002 to 2007. He has been a director of Nordea since 2003.

From 2008 to 2011 Lars G Nordström was CEO and President of Posten Norden AB. In his role as CEO he was responsible for merging the Danish and Swedish postal services. He was also a director of TeliaSonera AB between 2004 and 2010.

“It is with great enthusiasm that I accept the offer to become Chairman of the Board of Vattenfall. I look forward to joining the company’s Board, management and employees in contributing to ensure that Vattenfall yields good returns and remains a leader in moving developments towards environmentally sustainable energy generation”, says Lars G Nordström and continues;

“Vattenfall is one of Sweden’s largest and most important companies. I understand the political dimension surround-ing Vattenfall, and on the basis of my many years of experience in directing large companies I look forward to the opportunity of running Vattenfall together with CEO Oystein Loseth.”

At the same time, the government has nominated Björn Savén as Vice-Chairman of the Board. He has been acting Chairman of the Board of Vattenfall since March.