Recommendation from Statoil's Nomination Committee
The nomination committee in Statoil has recommended that the company's corporate assembly elects Øystein Løseth as new chair and Roy Franklin as a new member and deputy chair of Statoil's board of directors. Furthermore, the nomination committee recommends a re-election of Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman as members of the board of directors. Chair of the board Svein Rennemo and board member Jim Mulva have informed the nomination committee that they do not wish to stand for re-election in 2015. Svein Rennemo has been chair of the Statoil board of directors since 2008, and informed the nomination committee in 2014 that he wanted to be replaced.
Sætre Appointed President & CEO of Statoil
Statoil’s board of directors has appointed Eldar Sætre as the company’s new president and CEO. Sætre, who has 35 years’ experience from Statoil and the oil and gas industry, has been acting as president and CEO since October, and assumes the role with immediate effect. "Eldar Sætre was our first choice. The industry and company are facing demanding challenges. Eldar stands out with his long experience and ability to create change. Those are qualities we need in times like these. I am extra pleased that we were able to recruit the next CEO from within Statoil," said Statoil’s chair of the Board, Svein Rennemo. Sætre has extensive operational and financial experience from Statoil. He has been a member of the Corporate executive committee since 2003.
Statoil’s President & CEO Helge Lund Resigns
Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect. According to a Reuters report, Statoil's long-serving chief executive will take on the top role at smaller rival BG, where he has been promised a big pay rise if he can turn round the flagging British gas and oil producer.
Proposed Name Change, Statoil ASA
The board of directors of StatoilHydro will propose to the company’s Annual General Meeting on 19 May that the company name be changed to Statoil ASA. On 27 February this year, the board of directors received a letter from the Norwegian Ministry of Petroleum and Energy which stated that “the Norwegian State at the Annual General Meeting will only vote for proposals which include the name Statoil, either alone or as the dominating part of a new name”. ”The question of the company’s name is to be decided by the owners at the Annual General Meeting…
Stolt-Nielsen and Nutreco Holding Complete Merger of Marine Harvest
Stolt-Nielsen S.A. and Nutreco Holding N.V. today announced the completion of the merger of their worldwide fish farming, processing, and marketing and sales operations into a stand-alone new business entity, Marine Harvest. SNSA will hold a 25% share in the new company and Nutreco 75%. The signing of a Memorandum of Understanding for the merger by both parties was announced on September 13, 2004. Marine Harvest has over 6,000 employees worldwide and annual sales of approximately EUR 850 million in salmon, cod, halibut, tilapia and other farmed fish. Marine Harvest will be the leader in all of the markets in which it operates and will be led by a management with extensive industry experience. The new management of Marine Harvest has now taken control of the combined operations.
