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UPDATE 1-E.ON names company insider as new finance chief
December 16, 2016 / 1:36 PM / a year ago

UPDATE 1-E.ON names company insider as new finance chief

* Marc Spieker to replace Michael Sen as CFO

* To join board on Jan. 1, become CFO on April 1

* Spieker has been with E.ON for almost 15 yrs (Adds background)

FRANKFURT, Dec 16 (Reuters) - German utility E.ON named Marc Spieker as its new finance chief to replace Michael Sen, who is leaving the company to return to engineering group Siemens.

Spieker, 41, will join E.ON’s management board on Jan. 1 and will become chief financial officer on April 1, E.ON said in a statement on Friday.

Spieker has been with E.ON for almost 15 years, having held positions in Sweden and Spain before taking over investor relations in 2012.

Most recently, he oversaw the spin-off of Uniper, the conventional power plant and energy trading business, so E.ON can focus on more promising renewables, networks and retail operations.

Germany’s big centralised power producers have been hammered by the rise of renewable energy, plunging wholesale prices and the government’s plan to abandon nuclear power by 2022.

E.ON posted its third record loss in as many years in the first nine months of 2016, battered by a fresh round of writedowns on Uniper.

Outgoing CFO Sen, 48, leaves E.ON after fewer than two years, returning to his previous employer Siemens to head up the engineering group’s healthcare business. (Reporting by Maria Sheahan and Vera Eckert; Editing by Tina Bellon and Mark Potter)

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