VERBUND: Board of Management downsized

11/20/2001Wien

The VERBUND group, Austria’s leading power producer, is pointing the new way ahead by reshuffling its management committees. The group management board is reduced in size.

Dr. Herbert Schröfelbauer, previously deputy chairman of the group board of management and responsible a. o. for operations, research and environment, has been appointed Chairman of the Board of Management of VERBUND-Austrian Hydro Power AG (AHP), Austria’s largest producer of hydroelectric power, as of January 1, 2002 by the AHP supervisory board.

Thus Mr. Schröfelbauer, a recognized power plant expert, is taking the helm of the largest domestic producer of hydroelectric power. In this function he will also play a decisive role in the organization of European Hydro Power GmbH (EHP), the joint hydropower subsidiary of VERBUND and E.ON, in which VERBUND will hold the key position with 63 percent. Hence Mr. Schröfelbauer is also the guarantor of a successful union of the hydroelectric power plants for VERBUND.

With Mr. Schröfelbauer moving into the AHP Board of Management the VERBUND Board of Management will consist of no more than three members from now on: Dipl.-Ing. Hans Haider, Dr. Johann Sereinig, and Dr. Michael Pistauer.

Herbert Schröfelbauer, born in 1946, had studied mechanical engineering at the Technical University of Vienna before he joined Österreichische Draukraftwerke AG in 1973, where he was appointed member of the Board of Management in 1987. In 1994 Mr. Schröfelbauer was appointed member of the Board of Management of the VERBUND company. Today, he is a. o. President of the Austrian Federation for Electrical Engineering and Hydropower Representative in the Management Committee of the Federation of European Producers VGB.