Change of management at Alpiq

Giovanni Leonardi has decided to step down from his function as CEO of Alpiq. The Board of Directors has appointed its Chairman, Hans E. Schweickardt, as CEO ad interim. During the transition period the Board of Directors has appointed its Vice Chairman, Christian Wanner, to serve as Lead Director. Hans E. Schweickardt will consistently drive forward the programme launched in July 2011 with a view to focussing on the core business, improving earning power and enhancing the Group's financial scope.

The Board of Alpiq has accepted CEO Giovanni Leonardi's decision to stand down. Until his successor has been appointed, Hans E. Schweickardt, Chairman of the Board of Directors, will take over as acting CEO of the company.

The Board of Directors thanks Giovanni Leonardi for the major dedication and commitment he has shown throughout his long career with Atel, where he made a valuable contribution to the company's successful growth, as well as for the key role he played in the merger between Atel und EOS to create Switzerland's leading energy services provider, Alpiq. Now that this merger has been completed, and in view of the fundamental changes taking place in the industry, Giovanni Leonardi has decided to hand over management of the company.

The Board of Directors has agreed with Giovanni Leonardi to release him from his duties and responsibilities with immediate effect.