Fugro confirms former Statoil chairman as its new CEO

  • Business & Finance

Shareholders of offshore and onshore geotechnical and survey services provider Fugro have appointed Øystein Løseth as a member of the board of management.

The supervisory board of Fugro decided to nominate Løseth for appointment as member of the board of management and subsequently as CEO back in October.

Løseth was chosen to succeed current CEO Paul van Riel who would retire at the end of his term at the Annual General Meeting on April 26, 2018.

At the time of the announcement, Fugro said that Løseth’s nomination had to be made official by shareholders at an extraordinary general meeting which was held on Thursday, December 14.

Fugro said on Thursday that he would join the board of management starting January 1, 2018. After a transition period, he will succeed van Riel, the current CEO and chairman of the board of management, as of April 26, 2018.

Løseth has management experience at board level in major companies. From October 2014 until recently he was on the board of directors of Norwegian company Statoil, where he was chairman of the board for the last two years. Previously, he was CEO of Vattenfall AB, and of NUON, a Dutch energy company. Løseth started his career at Statoil and later gained experience in various roles with increasing responsibility in different companies in the energy sector.

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