Austrian utility Verbund AG (VER.VI) will advertise in January for its four board-member positions, the company said Friday.

"We are required to do so as we are a partially publicly-owned company," a Verbund spokesman said.

The mandates of all four current board members, including Chief Executive Wolfgang Anzengruber, run out at the end of 2013. The job posting won't only be for the position of chairman of the board but, among others, also for the vice-chairman's position. The new mandate is expected to run from January 1, 2014 to December 2018.

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