Norway: Statoil Adds Two New Members to Its Board of Directors

Business & Finance


The corporate assembly of Statoil has chosen Lady Barbara Judge and Bjørn Tore Godal as new members of Statoil’s board of directors.

The corporate assembly also re-elected Svein Rennemo as chair, Marit Arnstad as deputy chair, and Roy Franklin, Grace Reksten Skaugen and Jakob Stausholm as board members.

The election of the board will take effect from 1 September 2010.


Lady Barbara Judge

Member of the board of Statoil ASA from 1 September 2010.

Born: 1946

Other directorships: Chair of the UK Pension Protection Fund board.

Board chair and member of the compensation, governance and nomination committees in Motricity, Inc.

Board member, deputy chair and member of the audit and remuneration committee in Forte Energy NL.

Board member of Robert Walters PLC. Member of the remuneration and nomination committee.

Board member of NV Bekaert SA.

Board member of Magna International Inc and member of the corporate governance and compensation committee.

Number of shares in Statoil ASA: None

Loans from Statoil ASA: None

Experience: Judge has for 10 years served as a commercial lawyer focusing on securities and corporate finance. In 1980 she became the youngest person ever appointed by the president of the United States to the position as commissioner, US Securities and Exchange Commission.

Between 1984 and 1994 she held a number of senior executive positions within the finance industry. Since 1994 she has built and developed a broad portfolio of public and private non-executive and advisory roles focused on energy and regulatory frameworks.

Among other things she has served as chair of the UK Atomic Energy Authority from 2004 to 2010, has been deputy chair of the Financial Reporting Council, the UK regulatory authority for accounting and corporate governance and board member of the Energy Group of the UK Department of Trade and Industry.

From 2000-05 Judge was a founder and executive chair of Private Equity Investor PLC in London.

Education: Lady Barbara Judge is a JD from New York University Law School and holds a Bachelor of Art in History from the University of Pennsylvania.

Other matters: Lady Barbara Judge holds American and British citizenships and she lives in London.

Bjørn Tore Godal

Born: 1945

Other directorships: None

Number of shares in Statoil ASA: None

Loans from Statoil ASA: None

Experience: Godal was a member of the Norwegian parliament for 15 years in the period 1986-2001. He has served as minister for trade and shipping, minister for defence and minister of foreign affairs for a total of eight years between 1991 and 2001.

Since 2007 he has been special adviser for international energy and climate issues at the Ministry of Foreign Affairs.

From 2003-07 he served as Norway’s ambassador to Germany and from 2002-03 he was senior adviser at the institute of political science at the University of Oslo.

Education: Godal holds a Bachelor of Art degree in political science, history and sociology from the University of Oslo.

Other matters: Bjørn Tore Godal is a Norwegian citizen, and he lives in Norway.

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Source: Statoil, September 1, 2010,