Elia Group New CEO confirmed and permanent CFO replacement announced
Earlier this week, press speculation emerged that Chairman Bernard Gustin would take the CEO position. Now it also emerges that interim CEO Catherine Vandenborre will not return to the CFO position, but instead leaves the group for a new career path on 30/6/25. Interim-CFO Marco Nix, who was already 10 years CFO of 50Hz will become full-time CFO on 1/4/25. While we regret that a seasoned manager leaves the company, there is now finally a solution for the executive management that will have to execute the growth plan. Catherine worked 25 years at Elia and formed a strong team together with previous CEO Chris Peeters. On the positive side, the new CFO Marco Nix has been meeting investors since the start of this year. With the German elections on tap for early next year, a German national at the top level is also a plus. Another silver lining is that the timeline for CAPEX spending might shift a bit. This relieves some pressure to raise capital.Elia System Operator develops, operates and maintains very-high-voltage (380 kV, 220 kV and 150 kV) and high-voltage (70 kV, 36 kV and 30 kV) networks, providing its customers with consultancy and engineering services. Whether in Belgium, Germany or elsewhere in Europe or the U.S., Co. ensures that electricity flows reliably from energy producers to distributors and large corporate customers. Co.'s main activities include transmission operator, system operator and market facilitator, developing and maintaining grid infrastructure, connecting electrical installations to grids, providing transparent access to grids, while taking initiatives to improve electricity market operations.
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