German energy company RWE has extended the term of chief executive Peter Terium while acknowledging that “the group is still in troubled waters”.

Terium, who has been in the job since 2012, will now serve until 2021, a move which RWE sRWE chief executive Peter Teriumaid would “ensure continuity… at the top of the company”.

Chairman of RWE’s supervisory board, Manfred Schneider, said: “The RWE Group is still in troubled waters. Peter Terium has initiated long-term projects, which are of considerable importance for the optimisation of the group in the coming years.”

Schneider said the “first results are already visible” of these projects and added: “In this phase, the company needs long-term continuity and reliability in the management team. I am therefore delighted that the Supervisory Board and the company can continue to count on the leadership of Peter Terium.”

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