Adviser to the board Klaus Rauscher, PhD
Klaus Rauscher studied law and business administration at the University of Erlangen and Nuremberg. After receiving his doctorate in law, he started working in the treasury of the state of Bavaria, where he rose to be head of the division for governmental investment in business, economic affairs, state-owned banks and foundations. From 1988 to 1990, he was in charge of the Bavarian chancellery in Munich.
In 1991, Rauscher joined the management board of Bayerische Landesbank, the state’s public-law banking institution. His responsibilities included overseeing the bank’s business with key accounts from the utilities industry, with small and medium-sized firms as well as its activities in Asia-Pacific. In 2001, he became chief executive of HEW, an electric power company based in Hamburg.
When HEW merged with East German energy suppliers VEAG, BEWAG and LAUBAG to form Vattenfall Europe in 2002, Rauscher assumed the position of CEO, which he held until 2007. During his tenure, the company quadrupled its EBIT, cut costs by an annual 550 million euros and downsized its workforce by one fifth.
Rauscher has been awarded an honorary professorship from Dresden University of Technology (TU Dresden). He sits on the supervisory and advisory boards of various European companies.
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