Innogy flags cost cuts shortly after CEO resignation

By Kitco News / January 02, 2018 / www.kitco.com / Article Link

FRANKFURT, Jan 2 (Reuters) - German energy group Innogy on Tuesday said it was examining potential cost cuts across all segments, less than two weeks after its chief executive left in the wake of a profit warning.

"The Innogy Executive Board is currently reviewing discretionary spending across all segments for the potential to deliver further cost reductions," Innogy, which is majority-owned by RWE , said in a statement.

The group will provide further details along with annual results scheduled to be published on March 12, it said.


(Reporting by Christoph Steitz; Editing by Maria Sheahan)

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