The transformation of E.ON AG into a European Company (SE) is official. The transformation took effect today when it was entered into the commercial register of the D?sseldorf district court. Chaired by Werner Wenning, the smaller, twelve-member Supervisory Board, which consists of an equal number of shareholder and employee representatives, can begin its work immediately. The appointment of E.ON Board of Management members to the E.ON SE Board of Management took place in late October.
E.ON is the fourth SE in Germany’s Dax index. By establishing a leaner governance setup, the transformation aims primarily to make the Supervisory Board’s work more efficient and effective. In addition, the new form of incorporation and the Supervisory Board’s broad European representation underscore E.ON’s decidedly international identity.
At the recommendation of the Board of Management and the Supervisory Board, the E.ON Annual Shareholders Meeting approved the transformation in May. From this date, only half a year elapsed before the transformation became official. This was made possible in part by swift and constructive negotiations with a Special Negotiation Committee consisting of employee representatives from across Europe, which were concluded in mid-October.
Johannes Teyssen, CEO of E.ON SE, said: “We completed the SE transformation in a very short time. This demonstrates yet again that E.ON can carry out complex processes rapidly and purposefully. I’m looking forward to working with our new, more international Supervisory Board in an atmosphere of mutual trust and cooperation. Considering the significant challenges we face, it’s more important than ever that we engage in a constructive dialog to make the right decisions and together shape E.ON’s future.”