ECC: Supervisory Board extends Peter Reitz’ CEO mandate

Götz Dittrich proposed as Chief Operating Officer – Chief Technology Officer to complement the Management Board

At its meeting in Leipzig on 24th October 2018, the Supervisory Board of European Commodity Clearing (ECC) confirmed Peter Reitz as the Chief Executive Officer and extended his mandate by another five years.

The Supervisory Board proposes Dr Götz Dittrich as a new member of the Management Board to take over the function of the Chief Operating Officer from Steffen Köhler. This appointment is still subject to confirmation by the Federal Financial Supervisory Authority (BaFin), the national regulatory authority in charge of ECC. Dr Götz Dittrich joined the company in 2013 as the Head of Clearing Strategy and, since 2014, has been in charge of Risk Operations and Physical Settlement as well as the development of the clearing systems as Director Clearing & Settlement.

Moreover, at the meeting, the Supervisory Board confirmed Dr Thomas Siegl in the function of the Chief Risk Officer, which he will now perform exclusively for ECC. This move will be accompanied by Thomas Siegl leaving the Management Board of European Energy Exchange (EEX) as of 1st November 2018.

As soon as Dr. Götz Dittrich joins as Board Member, Steffen Köhler will leave the ECC Management Board to devote himself entirely to his duties as COO of EEX. Furthermore, Iris Weidinger will leave the ECC Management Board to focus on her work as the CFO of EEX.

Furthermore, the ECC Management Board is to be supplemented with another mandate shortly. The Supervisory Board approved the appointment of a Chief Technology Officer who will, in addition, also be a member of the EEX Management Board.

European Commodity Clearing (ECC) is the leading clearing house for energy and commodity products in Europe. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for CLTX, EEX, EPEX SPOT, Powernext and Power Exchange Central Europe (PXE) as well as the partner exchanges HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx.