wiredInUSA June 2020

Changes on board

DC cable contract

Image courtesy of NKT

Interim CEO Oswald Schmid Bekaert, a producer of steel wire products, has announced changes to its board of directors. Matthew Taylor has retired from his position as CEO and director of Bekaert, as of 12 th May 2020. Mr Taylor joined Bekaert in September 2013 as a member of the Bekaert Group executive, and became CEO in May 2014. Chairman of the board Jürgen Tinggren thanked Mr Taylor for his leadership of Bekaert “during a challenging period, and [for] his efforts to position Bekaert on the path to renewed success.” Oswald Schmid, chief operations officer of Bekaert, will act as interim CEO. Mr Tinggren commented: “The board of directors is convinced that Oswald is highly qualified to assume the role of interim CEO. He will work closely with the Bekaert leadership team to realise Bekaert’s ambitious goals.” The board of directors also announced the proposed appointments of Henrietta Fenger Ellekrog and Eriikka Söderström as independent members of the board, for a one-year term, subject to a routine meeting of shareholders.

Following the award of a contract from transmission system operator 50Hertz, NKT will be a part of the German SuedOstLink transmission line. NKT will supply and install 525kV XLPE high voltage DC onshore cable for a significant portion of the route, in three lengths of approximately 275km each. NKT expects to start production of the power cables and accessories towards the end of 2021, with installation in mid-2022 and final completion in 2025. SuedOstLink is the first of three long-distance power transmission lines in Germany to transport renewable energy from the northern parts of the country to the south. The lines often referred to as the HVDC corridor projects, cover a large proportion of the country; they are key to establishing the “Energiewende”, Germany’s long term strategy to switch to renewable energies by 2050.

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wiredInUSA - June 2020