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.

Profile

DTEK is a strategic holding company that develops four business streams in the energy sector. DTEK's companies employ 75 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK. 

DTEK companies produce coal and natural gas, generate electricity at the fossil-fuelled power plants and renewable energy power plants, supply heating and electricity to end consumers, and provide energy services. Four operating companies—DTEK ENERGY, DTEK Renewables, DTEK Oil&Gas, DTEK ESCO— directly manage production companies in each of the business streams.

DTEK's production indicators for 2016: the company produced 31.3 mln tonnes of coal, 1.6 bcm of natural gas, generated (supplied) 40.1 bln kWh of electricity, out of which 608.4 mln kWh came from the Botievo wind farm;   and transmitted 45.8 bln kWh of electricity via the networks.

DTEK is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.

For more information, visit: www.dtek.com

To learn about the social partnership projects in progress in the towns and cities of DTEK companies' operations and get a detailed status report on their implementation, visit www.spp-dtek.com.ua

What do you know about the future of Ukraine's energy industry?

More details