Pioneer of Mining's End: Farewell to RAG CEO Peter Schrimpf
Coal tycoon, RAG's top executive, announces retirement following closure of final coal mine. - Shut down the final mining operation.
Step aside, mining legend: Peter Schrimpf (68), the CEO of RAG, bids adieu to the mining industry on June 30, 2018.
A mining veterano, Schrimpf leaves RAG after its transformation. His tenure marked the end of German hard coal mining, a joint ceremony with Federal President Frank-Walter Steinmeier to receive the last piece of hard coal mined in Germany occurring at the Prosper-Haniel mine in Bottrop in December 2018.
In 2018, Schrimpf took the reins of RAG, which had been renamed from Deutsche Steinkohle AG.
Hard coal mining has been the cornerstone of Schrimpf's life. His father was a miner in Hamm. Schrimpf began his career as a young mining engineer at the Radbod mine in Hamm in 1984, a time when approximately 170,000 people were employed in the German hard coal industry.
With Schrimpf at the helm, RAG faced significant job cuts, especially after the 2007 deadline for phasing out coal mining in Germany. "The hardest challenge was making the socially acceptable phase-out by 2018," he told the German Press Agency dpa. Although around 30,000 employees were set to leave, RAG managed to either place them into early retirement or find them external placements. Today, RAG employs around 600 people.
Schrimpf cherishes the companionship and solidarity found in the mine. Regarding rumors about the industry, he shared, "What I've lived, I've experienced."
The RAG Foundation owns 100% of RAG AG. The foundation is responsible for managing the ongoing costs of German hard coal mining and ensuring that the groundwater level does not exceed certain heights due to mine water contamination, chemical pollution, and the collecting of water in the unfilled cavities of the mines after mining ceased.
RAG AG's successor has yet to be announced.
- RAG
- Change of Leadership
- Retirement
- CEO
- Germany
- Hard Coal Mining
- Frank-Walter Steinmeier
- Bottrop
- Hamm
As of the last knowledge update in December 2023, the RAG-Stiftung or RAG AG's successor to Peter Schrimpf had not been widely detailed in international business media or official RAG press releases available in open sources. If you require more recent information, please check the latest corporate news from RAG-Stiftung or RAG AG. To learn more about RAG, its history, and its duties, visit their respective websites (RAG-Stiftung and RAG AG).
- The retirement of CEO Peter Schrimpf marks a significant change in leadership for RAG, a company that has been at the forefront of Germany's hard coal mining industry.
- As Schrimpf leaves RAG, the company shift towards a new era in the energy sector, with finance becoming an increasingly important aspect as they manage the ongoing costs of mining and ensure environmental safety.
- Schrimpf's departure also signals a change in employment policy, with the company facing job cuts in the past as they phased out coal mining in Germany, but managing to transition many employees into early retirement or external placements.
