Statkraft CEO to bow out after 14 years of leadership

Norwegian renewable power producer Statkraft AS said on Tuesday that its CEO Christian Rynning-Tønnesen has announced his departure from the company after nearly 14 years at the helm.

“[A]fter 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,” Rynning-Tønnesen said in the announcement.

Statkraft’s board will now initiate the search for a new CEO. In the meantime, Rynning-Tønnesen will remain in his position until further notice.

Rynning-Tønnesen first joined Statkraft in 1992 when it was billed as Norwegian hydro power company. After rising through the ranks, he became President and CEO in 2010.

Under Rynning-Tønnesen’s leadership, “Statkraft has become Europe’s largest producer of renewable energy and a leading player in the global energy markets,” said Statkraft’s board Chair Thorhild Widvey.

At present, Statkraft develops and produces hydro, wind and solar power in native Norway and Europe, and markets such as Brazil, Chile, Peru, India and the US. It also plans to join the offshore wind sector in Ireland, Norway and other selected markets.

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