Det norske gets reinforcements from BP
- Business & Finance
Det norske oljeselskap’s nomination committee has nominated a new member to the company’s Corporate Assembly and two new members of the board of directors, all from BP.
Det norske said on Thursday that Murray Auchincloss, Upstream Chief Financial Officer (CFO) and Head of Business Development at BP, will replace Odd Reitan as the new member of the company’s Corporate Assembly.
Reitan informed the nomination committee that he wanted to resign from his position in the Corporate Assembly.
The election will take place at the company’s Extraordinary General Meeting on September 15.
The Corporate Assembly of Det norske was established in 2013. It consists of twelve members, eight of which are elected by the general meeting and four by and from the employees. The Corporate Assembly elects its own chair from among its members.
Among other duties, the Corporate Assembly elects the board of directors and the chair of the board. It also supervises the board and the CEO’s management of the company.
The nomination committee also nominated Bernard Looney, Chief Executive Upstream in BP, and Kate Thomson, Group Head of Tax in BP, as new members of Det norske’s board of directors. The election of new board members will take place at a Corporate Assembly meeting in late September.
The new additions to the board and corporate assembly come after a recent merger between BP Norge and Det norske.
The company will be renamed Aker BP with Aker and BP as main industrial shareholders. The new E&P company will be independently operated and listed on the Oslo Stock Exchange.