DONG chairman steps down
Fritz Schur’s nine-year tenure as the chairman of DONG Energy will come to an end at the company’s annual general meeting on March 12.
“I would like to welcome the new investors and am delighted that the company will have the finances to realise its ambitious strategy,” Schur said in a statement.
Schur said that the new shareholders leave the company in a strong position as it heads towards its initial public offering (IPO) in 2017-2018.
“It is a good time to hand over to a successor,” said Schur.
Schur took over as the chairman of DONG's board in 2005 and guided the company through the merger of six smaller businesses to create one of Denmark’s largest companies.
During the media frenzy surrounding the Goldman Sachs investment in DONG, Schur has been virtually a non-entity. Comments about the merger came mostly from CEO Henrik Poulsen, whom Schur congratulated on putting together a “strong management team”.
“I wish everyone good luck on the onward journey,” said Schur.