The corporate assembly in Norsk Hydro has today elected Egil Myklebust as chairman of the board.
Myklebust will retire as president and CEO of the company on 2 May, and will take over the chair from Einar Kloster. Kloster has been a member of the board for almost ten years, the last five of which as chairman. Last autumn he requested that he should be relieved of his post during the course of 2001. Benedicte Berg Schilbred, who has been a member of the board since 1990, has also expressed the wish to step down.
The corporate assembly has elected Ingvild Myhre and Elisabeth Grieg as new board members.
Ingvild Myhre is a chartered engineer and the managing director of Telenor Mobil. She has formerly held several management positions in Alcatel/STK. She has several honorary posts and has been a deputy member of Hydro’s corporate assembly since 1998 and a board member since 1999.
Elisabeth Grieg is the managing director and chairman of the board in Grieg International AS and has formerly been employed in Star Shipping and Bergen Bank. Grieg holds several board appointments, including the Norwegian Shipowners’ Association, and was educated at the Oslo Business School and the University of San Fransisco.
The corporate assembly has also re-elected the employees’ representatives to the board, while the election for the remaining shareholder elected board members will not take place until next year. Tom Wachtmeister will retire during the course of the year when he reaches the company’s age limit of 70 years for board members.
Hydro’s long tradition of the president and CEO also being a member of the board will be discontinued as of this board election. This is due to the board’s delineation and adjustment of the distribution of tasks between the board and the administration, drawn up during the course of the year. From the point of view of the board, this is, in brief terms, is connected to securing the best possible conditions for working with the company’s overall strategy and business planning, in addition to maintaining its supervisory function.
The committee working on the proposal for the composition of the board has been led by the chairman of the corporate assembly, Sven Ullring, and has otherwise consisted of the chairman of the board, Einar Kloster and the chairman of the shareholders' association, Westye Høegh. The committee has consulted with Hydro's largest shareholder, the Ministry of Trade and Industry, during the course of its work.
Norks Hydro's board will consequently be made up of:
- Egil Myklebust, chairman
- Borger A. Lenth, vice chairman
- Elisabeth Grieg
- Ingvild Myhre
- Gudmund Per Olsen (representing the employees)
- Anne Cathrine Høeg Rasmussen
- Odd Semstrøm (representing the employees)
- Tom Wachtmeister
- Per Wold (representing the employees)