Germany’s power supplier RWE has announced it will be downsizing.
The Supervisory Board of the firm approved the proposal to transform the management holding into an operating company.
The reorganisation aims to reduce bureaucracy, making processes leaner and reinforcing co-operation within the company.
The firm stated the changes, estimated to be implemented by 1st of January 2017, follow the transformation of the energy market in RWE’s core markets in the last years.
In a statement the company said: “RWE began as far back as 2012 to align the management of business areas along the value chain, independent of legal entities. The change in management structure that has now been decided upon, as well as the change of RWE AG from a management holding to an operating company, supports the further development and streamlining of this management model.”
The number of some positions which cover business areas i.e Chief Operating Officers will disappear and some management functions will be reduced.
In addition, the board committees and management boards of the integrated companies will also cease but RWE added, it does not mean their management responsibilities will change.
Peter Terium, CEO of RWE AG said: “These changes are further milestones on the path towards making RWE fit for the new energy world and to becoming one RWE.”
Asked if the reorganisation at RWE could affect npower, a spokesperson told ELN it won’t affect them as it is applied “only in Germany”.