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Creos energy firm dismisses CEO Marc Reiffers

Creos energy firm dismisses CEO Marc Reiffers

by Yannick LAMBERT 2 min. 14.10.2022
State-owned energy company said it had been informed of events which "could undermine the code of conduct"
Marc Reiffers has been forced to step down as Creos CEO
Marc Reiffers has been forced to step down as Creos CEO
Photo credit: Christophe Olinger

Luxembourg's state-owned energy firm Creos has dismissed its CEO over alleged breaches of its code of conduct, with a government civil servant taking over as head, as the country grapples with an energy crisis sparked by Russia's invasion of Ukraine.

Creos said that its board had decided to entrust responsibility for "the day-to-day management to the chairman of the board of directors alone, who will be supported by the management team in place" following a meeting at the end of last month, a spokesman said in an email on Friday.

The company was responding to news that CEO Marc Reiffers had been dismissed, originally reported by Paperjam. 

Creos did not name Reiffers but said it had been informed of events "that could undermine the code of conduct and the system of internal controls" towards the end of July, the spokesman said. Reiffers did not immediately respond to a request for comment when contacted on email and LinkedIn by the Luxembourg Times.

"Out of respect and because of the protection of personal data we will not give any indication of the person or persons involved", the spokesman said, calling the change in management an "operational decision."     

A complaint was lodged with the prosecutor's office by Creos last week concerning allegations of "illegal conflict of interest", a spokesman for the prosecutor's office said in an email on Friday, but declined to disclose any further details or people involved.    

Reiffers' responsibilities will be taken up by Mario Grotz, also a top government advisor to the economy minister, who is the chairman of the board.

Reiffers is still listed as the CEO on the Creos website and on his Linkedin profile. He is also listed as a member of the executive board on Encevo's website. Encevo, which controls Creos and Enovos, also declined to comment on the departure for "personal data protection reasons" on Friday.

The opposition Christian Democrat (CSV) party on Friday requested an urgent meeting of parliament's environment and economic committee to discuss the dismissal. 

Enovos made headlines in the summer when it disclosed an attack on two of its units - Creos and Enovos – that brought down client portals in July, before admitting in August that hackers had published a trove client data on the darkweb.

Cybersecurity firms tied the Encevo attack to the BlackCat group, with Prime Minister Xavier Bettel confirming last month that the group was responsible.

"Encevo informed the authorities that the alleged perpetrator behind the cyberattack on the Encevo group would be the group of cybercriminals known as "BlackCat"," Bettel said in response to a parliamentary question. "The group first appeared in November 2021 and is believed to be behind several large-scale cyberattacks in Europe and the United States over the past few months."

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