VERBUND advertises for Management Board member

9/13/2006Wien

Unanimous vote for open advertisement for fourth member of the Management Board - Definition of age limit.

DDr. Erhard Schaschl, Chairman of the Supervisory Board, has announced that, as a result of a unanimous decision with no abstentions in the nomination committee and in the Supervisory Board, an open advertisement will be issued for a fourth member of the Management Board.

At the same time it was announced with equal unanimity that the formal prerequisites in accordance with the Corporate Governance Code for an extension of term of office of the current Management Board until 31.12.2008 are given.

The decision regarding the extension of term of office is to be reached simultaneously with the appointment of the fourth member of the Supervisory Board.

Thus the conditions are perfect to guarantee continuous development as well as rejuvenation among the Management Board of Austria’s leading and most successful electricity company.