CEO Transition

Andrew Reicher has stepped down as Chief Executive of Globeleq Generation Ltd by mutual agreement, effective 31 October.

A search process is underway for a seasoned power industry executive to lead the business. In the interim, Torbjorn Caesar, as Chairman of Globeleq, will take over the day-to-day responsibilities of the business.

Until his appointment as Chairman in 2007, Torbjorn served as chief executive of Globeleq, responsible for all commercial, operational and business development activities. He also managed Globeleq through the sale of the majority of its operating assets in 2007. Torbjorn has more than 20 years experience in the energy sector.

Actis remains committed to ensuring the continued success of Globeleq and will back the company’s business plan that calls for US$500 million in new equity investments over the next five to seven years to develop new power generation in Africa, the Americas and Asia.