New managing director for HEW nominated

    Vattenfall’s President and CEO, Lars G. Josefsson, in his capacity as Chairman of the Board of Hamburgische Electricit௿½-Werke AG (HEW), is to propose to the HEW Board that Dr. Klaus Rauscher be appointed as Managing Director.

    The appointment of Dr. Rauscher is expected to take place at the next meeting of the Board of HEW on 4 October 2001.

    In his function as Managing Director of HEW, Dr. Rauscher will also lead the integration process for the New Force that is being formed on the German electricity market. This New Force will be formed through the merger of the four companies HEW, Bewag, VEAG and Laubag. Once this merger process has been completed, it is expected that Dr. Rauscher will be given the role of Managing Director of the new German group.

    Dr. Klaus Rauscher, 52, has been a member of the management of Bayerische Landesbank, Munich, for the last 9 years. He is a doctor of law, and he is married and has two children.

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