Frank Siebert appointed DTEK Finance and Strategy Director

Frank Siebert appointed DTEK Finance and Strategy Director

DTEK11 April 2018

Frank Siebert will be responsible for integrating strategic planning and financial management. This will help achieve the goals to reform the company, build new power generation facilities and increase coal and gas production.

Frank Siebert is a senior executive with many years of experience gained in Eastern Europe, Germany and the UK. In 2012-2018, Frank represented the interests of shareholders in Nabucco, an international gas pipeline construction project. Earlier, Frank had been an executive at Ruhrgas and E.ON, Germany’s largest energy company, for 19 years.

“One of DTEK’s key objectives is to get prepared for a competitive energy market. It means that the processes inside the company must change and the expertise of our management team should be expanded. We must learn to compete for our customers, new technologies and investment capital. This will help DTEK maintain its leadership position in the new market environment. European energy companies completed the market reform process ten years ago. Thus, Frank’s expertise will be essential for DTEK today, as he has been through the liberalisation of the European energy sector with E.ON,” said DTEK CEO Maxim Timchenko.

“Ukrainian energy sector is on the verge of global transformations driven by the initiated reforms and objectives set by the Energy Strategy of Ukraine. The country has a great potential to build a new energy market shortly to compete with the European markets on equal terms. I see that DTEK is actively promoting this transformation, and I have an opportunity to contribute to these changes,” noted Frank Siebert.


DTEK is a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK.
DTEK companies produce coal and natural gas, generate electric power at the fossil-fuel fired power plants and renewable energy power plants, supply thermal and electric power to end consumers, and provide energy services. The operating companies directly manage production companies in each of the business streams.
DTEK’s production indicators for 2017: the company has produced 27.7 mn tonnes of coal, 1.655 bcm of natural gas, generated (supplied) 37.1 bn kWh of electric power, of which 637.8 mn kWh have been provided by the renewable energy sources; and transmitted 43.2 bn kWh of electric power via the grid.
DTEK is a part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.
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