The man who sold Nuon is Vattenfall boss

Monday 16 November 2009

Swedish energy firm Vattenfall has appointed Oystein Loseth, current CEO of Dutch energy firm Nuon, as its new chief executive.

Loseth, a Norwegian, has been head of Nuon since April 2008 and was responsible for selling the Dutch firm to the Swedish company earlier this year.

Vattenfall's current director Lars Josefsson has been heavily criticised at home and is retiring, the Financieele Dagblad said on Monday.

Nuon announced plans to sell itself to Vattenfall in February for €8.5bn. The Swedish firm, which is 100% government owned, will first take a 49% stake in the second-biggest Dutch energy company but will expand its interest to full ownership over six years.

© DutchNews.nl

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