From the Mines to Retirement: The Departure of RAG's CEO, Peter Schrimpf
Mine closure Call: RAG Chief Steps Down - Mine shutdown concluded by owner.
Peter Schrimpf, a mining veteran, has bid farewell to the world of RAG (Rheinische Aktiengesellschaft für Braunkohlenbergbau und Brikettfabrikation). On June 30th, Schrimpf, aged 68, concluded his tenure at the once Ruhrkohle AG, marking the demise of German hard coal mining.
The finale of Schrimpf's career was as memorable as it was sorrowful - in December 2018, he, alongside Federal President Frank-Walter Steinmeier, received the last piece of hard coal mined in Germany at the Prosper Haniel mine in Bottrop.
Having served as RAG's CEO since 2018, Schrimpf's journey in the coal industry has been a storied one. His father, a miner in Hamm, paved the way for Schrimpf's own career in mining. He started as a young mining engineer at the Radbod mine in Hamm in 1984, a time when nearly 170,000 individuals were employed in the German hard coal industry. During his illustrious career, Schrimpf became a member of the management board of Deutsche Steinkohle AG in 2004 and, in 2018, assumed the mantle of CEO as the company established itself as RAG.
Schrimpf was no stranger to the trials and tribulations that accompany the coal industry, especially after the phase-out date of 2007. He recalls the challenge of orchestrating a socially acceptable phase-out by 2018, resulting in the reduction of approximately 30,000 employees either into early retirement or external placement. In 2018, there were still 2,000 employees, and today RAG retains around 600 employees.
Looking back, Schrimpf appreciates the "clarity, camaraderie, and solidarity" that the mining industry offers, an experience he shares with many who have toiled in those dark mines.
A successor to Schrimpf will be announced at a later date. As for RAG, it remains a 100%-owned entity by the RAG Foundation, tasked with financing the ongoing follow-up costs of German hard coal mining. One of its key responsibilities is to ensure that the groundwater level does not exceed certain heights, as mine water, often contaminated with salts and chemicals, frequently collects in the unfilled cavities of the mines and must be continuously pumped out to prevent it from reaching the drinking water layers.
The end of an era for Schrimpf, but also the beginning of a new chapter for RAG - what could the departure of a mining legend mean for this esteemed organization and the broader context of hard coal mining in Germany remains to be seen.
In his tenure as the CEO of RAG, Peter Schrimpf, who had a longstanding connection with the coal industry, was instrumental in managing the reduction of approximately 30,000 employees, a challenge that presented itself after the phase-out date of 2007.
Moving forward, the energy sector, particularly the oil-and-gas and finance industries, may find opportunities in collaborating with RAG, as it currently manages the ongoing follow-up costs of German hard coal mining and ensures the safety of groundwater levels.
