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Uniper names Jutta Doenges new CFO

Uniper names Jutta Doenges new CFO
Uniper names Jutta Doenges new CFO Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
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By Emma-Victoria Farr

FRANKFURT -German energy company Uniper has appointed Jutta Doenges as its new chief financial officer, it said on Friday.

Doenges will join the management board of the nationalised energy company, leaving its supervisory board - which she only joined in December - at the end of February.

The former Goldman Sachs banker succeeds Tiina Tuomela as CFO from March 1, 2023.

"We have gained [in Jutta Doenges] someone who is very familiar with the interplay between entrepreneurial activity and state supervision," said Tom Blades, Chairman of Uniper's supervisory board.

The Duesseldorf-based energy company was nationalised as a result of the difficulties in gas markets caused by Russia's war in Ukraine. Uniper is now 99.1 percent owned by the federal government.

Until recently, Doenges was managing director of the federal finance agency in Frankfurt, which manages Germany's borrowing.

Here she helped engineer government bailouts for tour operator TUI AG and airline Deutsche Lufthansa AG, which suffered losses after tourism slumped during the coronavirus pandemic.

Doenges sits on the supervisory board of both TUI and Commerzbank AG, in which the German government has held a 15.6% stake since it rescued the lender during the financial crisis.

Uniper's chief executive Klaus-Dieter Maubach recently announced his resignation, saying on Jan. 10 that the firm needed to be strategically realigned and it was time for new management.

Maubach was appointed CEO of Uniper at the end of March 2021. David Bryson, Uniper's chief operating officer, is also leaving the company.

Following the government's takeover, remuneration restrictions apply to Uniper's new management board and supervisory board members.

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