Helge Lund - new Statoil CEO 

March 8, 2004, 07:00 CET

At its meeting on 7 March 2004, Statoil's board of directors appointed Helge Lund (41) as new chief executive for the Statoil group. Mr Lund is currently chief executive of Aker Kværner ASA.

Newly-appointed chief executive Helge Lund is welcomed to Statoil by Jannik Lindbæk, chair of the board. (Photo: Scanpix)

"Helge Lund was the first choice of the board and we are very pleased that he has agreed to lead Statoil in the years ahead," says Statoil chair Jannik Lindbæk.

Mr Lund graduated as a business economist at the Norwegian School of Economics and Business Administration in Bergen. He also has a master of business administration (MBA) from the Insead business school in France. Before he became chief executive of Aker Kværner, Mr Lund had a number of positions in the Aker RGI system, and before that he had a central role in the top management of Hafslund Nycomed.

"Statoil plays a unique and important role in Norwegian business and industry," says Mr Lund. "The position of chief executive represents a distinctive and big challenge which, after thorough consideration, I have accepted. Statoil is a highly competent and robust group with the ability to deliver. It has many able employees and I look forward to making a contribution to the further development of the group."

The board's decision to appoint Mr Lund was unanimous. He will take up his new position on 15 August 2004.

Executive vice president Erling Øverland has been appointed as acting CEO, effective from this morning and until 15 August. Inge K Hansen has stepped down from his position as acting CEO. He will be appointed CEO in one of the three new entities in Aker Kværner.

The chair of the board of Statoil ASA will hold a press conference at the SAS Radison Airport Hotel, Gardermoen, at 09.00 on Monday 8 March.

Contact persons:

Wenche Skorge, vice president for public affairs, tel 91 87 07 41 (mobile), 51 99 79 17 (office).

Mari Thjømøe, vice president for investor relations, tel 90 77 78 24 (mobile), 51 99 77 90 (office).