Statoil shuffles corporate structure

Norwegian energy giant and LNG operator Statoil has made is a number of changes in its corporate executive committee (CEC) to strengthen the leadership pipeline in the company.

Reflecting further development of the international portfolio, Statoil is also making some adjustments in its corporate structure, the company said in a statement on Friday.

The changes are planned to take effect between May 1 and October 15.

“Several executives will take on new positions to leverage their skills in strategic areas for Statoil while continuing to broaden their experience. These moves open the opportunity to include new members with strong commercial and operational backgrounds in the corporate executive committee,” says president and CEO Eldar Sætre.

Changes in the company’s corporate executive committee structure include:

• EVP development & production international (DPI) Lars Christian Bacher will take over the position as chief financial officer (CFO), succeeding Hans Jakob Hegge, who will take the position as US country manager heading up Statoil’s global onshore unconventional activities.
• EVP development & production USA (DPUSA) Torgrim Reitan will head up a restructured DPI, that will include current operations organized in DPUSA.
• The Brazil operations will be taken out of the DPI portfolio and organized as a separate business area, development & production Brazil (DPB). EVP technology, project & drilling (TPD) Margareth Øvrum will be the EVP for the new business area.
• EVP new energy solution (NES) Irene Rummelhoff will take over as EVP marketing, midstream & processing (MMP), succeeding Jens Økland, who will take the role as senior vice president for business development in NES.
• SVP Anders Opedal will move from current position as country manager Brazil to succeed Margareth Øvrum as EVP TPD and becomes a new member of the CEC.
• SVP Pål Eitrheim, currently responsible for procurement as part of TPD, joins the CEC as EVP NES, taking over from Irene Rummelhoff.
• SVP Al Cook moves from his position as head of operations technology and partner operated licenses in DPI, and takes the role as EVP global strategy & business development (GSB) in the CEC, succeeding John Knight. As previously informed, Knight has decided not to prolong his contract with Statoil beyond the end of 2018. He will step down from the CEC on May 1.

The current organizational structure and CEC will remain in place until the planned implementation takes effect.

Al Cook will take over as EVP GSB on May 1, while the rest of the changes take effect during August, including the establishment of DPB, which will be headed up by Anders Opedal, reporting to the CEO, until Margareth Øvrum steps formally into the EVP DPB role October 15, Statoil said.