Statoil Makes New Appointments

Norway’s Statoil has elected Øystein Løseth as its new chair and Roy Franklin as a new member and deputy chair of the company’s board of directors.

Øystein Løseth has been a member of Statoil ASA’s board of directors since 1 October 2014 and is a member of the board’s audit committee.

Roy Franklin was a member of the board of directors of StatoilHydro from October 2007, and Statoil’s board of directors from November 2009 until June 2013. He has previously been the chair of both the board’s safety, sustainability and ethics committee and the board’s audit committee.

Chair of the board Svein Rennemo and board member Jim Mulva had in advance informed the nomination committee that they did not wish to stand for re-election in 2015.

Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman were re-elected as members of the board of directors. Board member Rebekka Glasser Herlofsen, who was elected to the board from March 19, 2015, has been elected until the ordinary election of shareholder-elected members to the board of directors in 2016.

The election enters into effect from July 1, 2015 and until the ordinary election of shareholder-elected members to the board of directors in 2016. All candidates were elected in accordance with the proposal from the nomination committee.

Furthermore, the corporate assembly re-elected Lill-Heidi Bakkerud, Ingrid Di Valerio and Stig Lægreid as employee-elected members of Statoil’s board of directors. Per Steinar Stamnes, Per Gunnar Stavland og Kjetil Hansen Melvær (with this priority) were elected as deputy members for the employee-elected board members.

The employee-elected members have been elected for a period of two years.

Image: Statoil