After nearly 14 years at the helm, Statkraft AS CEO Christian Rynning-Tønnesen has officially communicated his intention to step down. The announcement was made during a meeting with the company's Board of Directors. Although his departure date remains uncertain, Mr. Rynning-Tønnesen will continue to serve as President and CEO until further notice.
Statkraft, a major player in the renewable energy industry, has experienced substantial growth under Mr. Rynning-Tønnesen's leadership. The Board of Directors will now initiate the process of finding a suitable successor to fill his shoes.
"I would like to thank Christian for his leadership and contributions to Statkraft. Statkraft has become Europe’s largest producer of renewable energy and a leading player in the global energy markets. Statkraft has a robust platform for continued growth, both operationally and financially," said Mrs. Thorhild Widvey, Chair of the Board of Statkraft AS.
Rynning-Tønnesen assumed the role of President and CEO of Statkraft in 2010, and during his tenure, the company has consistently delivered an average annual return of 26 percent after tax, including dividends to shareholders. Statkraft has grown to become one of Norway's largest companies, boasting an enterprise value exceeding NOK 300 billion.
Statkraft's presence now spans 21 countries, with a primary focus on Norway and Europe. The company also maintains operations in Brazil, Chile, Peru, India, and the United States. Known for developing and producing renewable hydro, wind, and solar power, Statkraft plays a pivotal role in both Norwegian and international industries. The company's influence extends to the renewable technology sector, with involvement in the development of hydrogen and biofuel solutions.
Furthermore, Statkraft's ambitious growth strategy seeks to increase its renewable energy production capacity by 2500 to 3000MW annually from 2025. The company has plans to explore offshore wind projects in Ireland and Norway, as well as in select international markets.
Rynning-Tønnesen shared his thoughts on his decision, saying: "After almost 14 years as President and CEO, and after careful considerations, I have concluded and informed the Board that it is time to step down. It is a privilege to lead a company that contributes to the green shift through large-scale renewable energy development and production. I am proud of what all the employees have achieved and am confident that I leave Statkraft fit to deliver on our ambitious growth strategy."
