Thomas Sieber to step down as Chairman of the Axpo Board of Directors in 2026

5.12.2024 - After 10 years at the helm of Axpo Thomas Sieber has informed the shareholder representatives that he will not be standing for re-election as Chairman of the Board of Directors at the 2026 Annual General Meeting. The decision allows the shareholders to start the succession process with sufficient lead time. 

Thomas Sieber was elected Chairman of the Board of Directors in 2016 and has successfully led the Board ever since. He will not be standing for re-election at Axpo's 10th Annual General Meeting in January 2026 and has informed the shareholder representatives accordingly.  

Axpo Chairman of the Board of Directors Thomas Sieber said: “When I hand over in 2026, I will look back on 10 years as Chairman of the Axpo Board of Directors. This completes a natural cycle for me. I was able to lead the company through exciting and challenging times. During the low-price phase at the beginning of my term of office, it was all about substance, and during the major European energy crisis in 2022, it was all about liquidity. The company successfully navigated both phases, consistently pursued and implemented its strategy and emerged stronger in both cases. I am proud of Axpo is today; in particular, our financial strength is an excellent basis for the future. For example, equity has increased from CHF 4.6 billion in 2016 to CHF 13 billion in 2024, by a good CHF 7 billion in the last five years alone. As the largest electricity producer in Switzerland, covering 40 per cent of the national electricity demand, and as an international energy company with a very successful customer and trading business, the company is well positioned and robust thanks to its diversification. I am looking forward to the coming year and will continue to be fully committed to Axpo.”

The succession process has already been initiated.