New President and CEO for Statoil

Norwegian energy provider Statoil's board of directors have appointed Eldar Sætre as new President and CEO. Sætre has been acting as president and CEO since October, and assumes the role with immediate effect.

Sætre has 35 years’ experience from Statoil and the oil- and gas industry.

"Eldar Sætre was our first choice. The industry and company are facing demanding challenges. Eldar stands out with his long experience and ability to create change. Those are qualities we need in times like these. I am extra pleased that we were able to recruit the next CEO from within Statoil," says Statoil’s chair of the Board, Svein Rennemo.

Sætre has extensive operational and financial experience from Statoil. He has been a member of the Corporate executive committee since 2003. He started as CFO, and later became executive vice president for the business area Marketing, processing and renewable energy (MPR).

"Statoil is well positioned for the future. We have a solid financial platform, and a highly competent organisation. Our industry is currently experiencing large uncertainty. Statoil started the work to improve our competitiveness early. We have our work cut out for us, but we are well prepared to tackle these challenging times," says Eldar Sætre, Statoil’s new president and CEO.

(Press release)(Picture Stocklink)





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