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OX2 appoints Matthias Taft as new CEO after Paul Stormoen’s departure

Swedish renewable energy developer OX2 has appointed Matthias Taft as its new chief executive officer, succeeding Paul Stormoen, who led the company since 2011 and will now join the board of directors.

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Swedish group OX2 has officially announced the appointment of Matthias Taft as chief executive officer effective September 1, taking over from Paul Stormoen after fourteen years at the company’s helm. The transition comes as OX2 expands internationally, consolidating its activities in wind, solar and hydrogen.

Matthias Taft previously led German renewable energy developer and independent power producer (IPP) BayWa r.e. for the past twelve years. He oversaw the company’s international expansion and the structuring of its IPP portfolio. His new role at OX2 comes as the company aims to strengthen its position in global markets.

A strategic leadership transition

Paul Stormoen, who had been in charge since 2011, oversaw OX2’s transformation from a local onshore wind developer into a global renewable energy player. He will remain involved in the company’s governance by joining the board of directors, ensuring strategic continuity within the group.

According to public statements, the board of directors is relying on Matthias Taft’s industry experience to accelerate OX2’s growth in a competitive market. His background in asset portfolio management and structuring of international partnerships is viewed as a development driver for the Swedish group.

Ensuring continuity in leadership transition

Xabier Etxeberria, chairman of OX2’s board of directors, welcomed Taft’s appointment while praising Stormoen’s achievements. The stated objective is to build on the company’s progress over recent years and adapt its operating model in a shifting energy environment.

OX2 continues to operate in several European markets as well as Australia, with a development pipeline in offshore wind, solar and green hydrogen. The leadership change comes as the company structures its IPP assets to expand its own generation capacity.

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