PGS boss to become Statoil chairman

Statoil’s nomination committee has unanimously recommended that the company’s corporate assembly elects Jon Erik Reinhardsen as the new chairman of the board of directors.

The Norwegian oil company also said that the committee recommended the re-election of Roy Franklin as deputy chair and Wenche Agerup, Bjørn Tore Godal, Rebekka Glasser Herlofsen, Maria Johanna Oudeman, and Jeroen van der Veer as members of the board of directors.

Chair of the board Øystein Løseth already informed the company that he does not wish to stand for re-election in 2017. Løseth has been a member of Statoil’s board of directors since 2014 and chair since 2015.

He decided to return to more operational positions that would conflict with his work as the chairman of Statoil’s board. Løseth will leave the board of directors effective July 1, 2017.

Reinhardsen has been the CEO of Petroleum Geo-Services (PGS) since 2008. Before that, he worked for aluminum company Alcoa Inc. and held various positions in the Aker Kværner group. He is also a member of the board of directors of Oceaneering, Borregaard, Telenor, and Awilhelmsen.

Tone Lunde Bakker, chair of the nomination committee, said: “The choice of Jon Erik Reinhardsen is based on his deep industrial and global experience, paired with broad background from management of large organizations, including as CEO of a truly global company.

“The nomination committee is very satisfied that Reinhardsen has confirmed willingness to take on such a demanding and important role as chair of the board of Statoil.”

As stated on Monday by PGS, Reinhardsen will leave his position in PGS as of August 31 and, if elected, will join the Statoil board on September 1. The nominating committee recommended that Roy Franklin takes over as acting chair of the board after the departure of Øystein Løseth on July 1 until August 31.

The election will take place in the company’s corporate assembly meeting on June 6, 2017. The re-election of the six members will be effective from July 1 until the ordinary election of shareholder-elected members to the board of directors in 2018.

Related news

List of related news articles