Innogy Flags Cost Cuts Shortly after CEO Resignation

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)