Recommendation from Statoil's nomination committee
Furthermore, the nomination committee recommends a re-election of Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman as members of the board of directors. Board member Rebekka Glasser Herlofsen, who was elected to the board from 19 March 2015, has been elected until the ordinary election of shareholder-elective members to the board of directors in 2016
Chair of the board Svein Rennemo and board member Jim Mulva have informed the nomination committee that they do not wish to stand for re-election in 2015. Svein Rennemo has been chair of the Statoil board of directors since 2008, and informed the nomination committee in 2014 that he wanted to be replaced. Jim Mulva has been a member of the board of directors since 2013, and has informed the nomination committee that he due to capacity constrains, with several demanding offices, does not wish to stand for re-election.
The nomination committee is now recommending a new chair as well as a new member of the board of directors. A new deputy chair of the board of directors has not been elected after the former deputy chair, Grace Reksten Skaugen, resigned from the board with effect from 19 March 2015. The nomination committee is therefore also proposing a new deputy chair of the board of directors.
Øystein Løseth has been a member of Statoil ASA’s board of directors since 1 October 2014 and is a member of the board’s audit committee. Løseth has significant top managerial experience in the energy sector, with particular expertise and experience from the European energy market. He worked in Vattenfall AB from 2009 to 2014, first as an Executive Vice President and then as the company’s Chief Executive Officer from 2010. In the period 2003 – 2009, Løseth worked for the Dutch energy company NUON, first as Division Managing Director, then as Managing Director and Chief Executive Officer. In addition, he has extensive management experience from Statkraft and Statoil within strategy and business development. Løseth is a Norwegian citizen, and graduated as M.Sc. from the Norwegian University of Science and Technology and as B.Sc. in Business Management from BI Norwegian School of Management in Bergen.
Roy Franklin was a member of the board of directors of StatoilHydro from October 2007, and Statoil’s board of directors from November 2009 until June 2013. He has previously been the chair of both the board’s safety, sustainability and ethics committee and the board’s audit committee. Franklin has broad leadership experience from the oil and gas industry, including from BP, Paladin Resources and Clyde Petroleum. He has a bachelor of Science in Geology from the University of Southampton, UK. Franklin is a British citizen resident in the UK where he in 2004 was awarded an OBE (Order of the British Empire) for services to the UK oil and gas industry.
The election to Statoil's board of directors takes place in the company's corporate assembly meeting Tuesday 9 June 2015. It is proposed that the election enters into effect from 1 July 2015 and until the ordinary election of shareholder-elected members to the board of directors in 2016.
Catherine Hughes resigned from the board of directors on 19 April 2015. The nomination committee’s search for a new, female board member as replacement for Hughes has commenced, but is not expected to be completed in time for the corporate assembly meeting in June. A by-election will be held as soon as a new candidate has been identified.
- Olaug Svarva, chair of the nomination committee
- All enquiries to be directed through Statoil Corporate Press Office, Jannik Lindbæk, +47 977 55 622.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)