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.


DТЕК is the largest private investor in Ukraine’s energy sector.

DTEK Group produces coal and natural gas, generates electricity at thermal, solar and wind power plants, distributes electricity, supplies electricity to end consumers, provides energy efficient solutions and develops a network of EV charging stations.
In 2019, DTEK’s capital investments totalled UAH 23 bln. Moreover, the company paid UAH 23.4 bln of taxes. DTEK employs 70 thousand people.

The company is 100% owned by SCM Limited. Ultimate beneficial owner – Rinat Akhmetov.


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