Kvaerner CFO calls it quits, ex-Aibel CFO takes his place

  • Business & Finance

Kvaerner informed on Tuesday that its executive vice president & CFO, Eiliv Gjesdal, will step down from the role as CFO as of April 6, 2016.

According to the company, Gjesdal has decided to seek new challenges outside Kvaerner, and he will work with special tasks until his notice period ends June 30, 2016.

“Eiliv Gjesdal started as CFO in Kvaerner when the company was demerged from Aker Solutions in 2011. During a period of five years, he made significant contributions to Kvaerner’s development and financial management.

“He has been an important part of our executive management team and has provided strong support to our colleagues. We wish Eiliv all the best in his future assignments,” says President & CEO Jan Arve Haugan.

Idar Eikrem has been appointed as new executive vice president & CFO. He will start in his new position April 5, 2016 and will be supported by Eiliv Gjesdal in a period until his notice period ends.

“Idar Eikrem has an outstanding record and a perfect background for this leadership role in our team, and it was good to get him on board. I am looking forward to a seamless transition and wish him welcome to the team,” says Haugan.

Idar Eikrem, (53) is born in Norway and holds a M.Sc. of economics and business administration from the Norwegian School of Economics and Business Administration in Bergen, Norway and is state-authorized public accountant.

He was until 2014 executive vice president and CFO for the contracting group Aibel, and has also held management positions overseas for the same company. Eikrem’s former experience also includes the position as CFO for the Canadian company Synenco Energy and he worked 15 years for Norsk Hydro where he held several positions in financial management in Norway and Singapore and he was also Head of Investor Relations.

Last week, Kvaerner was implicated in a major international oil industry corruption scandal including Monaco-based company Unaoil. Kvaerner denied any wrongdoing.

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