Statoil in board shifts

Statoil has on March 18, 2015, elected Rebekka Glasser Herlofsen as new shareholder representative to the company’s board of directors.

Grace Reksten Skaugen withdraws from the position as a member of Statoil’s board of directors. Reksten Skaugen had at an early point in time informed the nomination committee that she did not wish to stand for re-election in 2015.

Since 2012, Herlofsen has been the Chief Financial Officer in the Norwegian shipping company Torvald Klaveness. According to Statoil, she has broad financial and strategic experience from several corporations and board directorships.

Herlofsen’s professional career began in the leading Nordic Investment Bank, Enskilda Securities, where she worked with corporate finance and equity analysis from 1995 to 1999. During the next ten years, Herlofsen worked in the Norwegian shipping company Bergesen d.y. ASA (later BW Group). During her period with Bergesen d.y. ASA/BW Group she held positions as head of M&A and strategy and corporate planning.

Having been a previous board member in Noreco, she was appointed as the company’s Chief Financial Officer in 2011, before starting her current role as Chief Financial Officer in Torvald Klaveness, in 2012. Herlofsen is currently a member of the board of DNV GL and, until recently, the chairman of the board of Cermaq. As such, Statoil says that she has broad experience within corporate governance.

Rebecca Glasser Herlofsen is a Norwegian citizen.

The election enters into effect from March 19, 2015 until the ordinary election of shareholder representatives.