Norsk Hydro's chairperson, Egil Myklebust, has informed the company's electoral committee that he does not wish to stand for re-election when the current electoral period expires in spring 2004.
Myklebust points out that he has been a member of Hydro's board for twelve years, the last three of them as chairman, and that he therefore considers the time right for a change. According to Myklebust, his decision is also timely given the fact that Hydro has largely realized the main elements of the strategy drawn up during 1999 and a wide-ranging modernization of the company's model of governance has now been implemented.
Myklebust points out that he has been a member of Hydro's board for twelve years, the last three of them as chairman, and that he therefore considers the time right for a change. According to Myklebust, his decision is also timely given the fact that Hydro has largely realized the main elements of the strategy drawn up during 1999 and a wide-ranging modernization of the company's model of governance has now been implemented.
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Tor Steinum (+47) 22 53 27 31 (+47) 95 08 39 33 Tor.Steinum@hydro.com |
Norsk Hydro ASA
Bygdøy allé 2
N-0240 Oslo
Norway
Telephone: (+47) 22 53 81 00
Fax: (+47) 22 53 27 25
www.hydro.com
Bygdøy allé 2
N-0240 Oslo
Norway
Telephone: (+47) 22 53 81 00
Fax: (+47) 22 53 27 25
www.hydro.com