German energy company E.ON SE (EOAN.XE) is to extend Chief Executive Johannes Teyssen's contract to Dec. 31, 2021, it said Friday.
The decision follows a supervisory board meeting.
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Mr. Teyssen was appointed chief executive at E.ON in 2010. He was in charge in late 2014 when the company decided to split into two companies to address changes in the energy market.
E.ON said it would present the details of its new growth strategy by spring 2018. The company said the entire current board will remain in place.
"The supervisory board is convinced that Johannes Teyssen is the right man at the top of E.ON, especially for the start of this new phase of corporate development," said Karl-Ludwig Kley, chairman of E.ON's supervisory board.
E.ON also said its supervisory board approved the extension of management board member Leonhard Birnbaum's contract until June 30, 2023. Mr. Birnbaum is chief operating officer of networks and renewables.
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(END) Dow Jones Newswires
September 29, 2017 07:50 ET (11:50 GMT)