Norsk Hydro: Eivind Kallevik appointed CEO of Hydro

Rhea-AI Summary

Eivind Kallevik appointed as President and CEO of Norsk Hydro ASA, succeeding Hilde Merete Aasheim. Kallevik brings over 30 years of experience in finance and industry to lead Hydro towards 2030 and beyond.

Eivind Kallevik has been appointed President and CEO of Norwegian aluminium and renewable energy company Norsk Hydro ASA. Kallevik succeeds Hilde Merete Aasheim, who has decided to step down after five years. The appointment will be effective May 13, 2024.

"I am pleased to announce that Eivind Kallevik has accepted the job as President and CEO of Hydro. Throughout his more than 30 years of experience from Norwegian and international finance and industry, Eivind has a strong track record of developing the business, capturing opportunities, and maneuvering the industrial landscape and markets. I am confident Eivind has what it takes to lead Hydro towards 2030 and beyond," says Dag Mejdell, chairperson of Hydro's Board of Directors.

Kallevik is currently Executive Vice President and Head of Hydro's Aluminium Metal business area, a position he has held since 2019. From 2013 to 2019 he held the position as CFO in Hydro. Prior to this, Kallevik held several senior management positions in Hydro, including the Bauxite & Alumina business area and the downstream aluminium business.

"I am excited to take the next step for Hydro together with our 32,000 competent and engaged employees, with our strategic direction towards 2030 as a strong foundation. Our low-carbon efforts throughout our value chain are placing Hydro in a leading position in the green transition and providing a platform to accelerate our strategic partnerships. Strong control of our cost position and continuous improvement efforts will remain the backbone of Hydro’s operations, combined with our unique capabilities to develop innovative technologies and commercial opportunities," says Kallevik.

Hilde Merete Aasheim has been working in Hydro for 17 years and will leave the company end of June, 2024.

"Hilde Merete Aasheim has led the company through a period where we have seen significant changes in the world around us. She has demonstrated a strong ability to manage short-term challenges, while positioning the company for long-term opportunities together with the rest of the organization. During her tenure, Hydro has strengthened profitability and significantly lifted the sustainability agenda,” says Mejdell.

Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com

Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

FAQ

Who is appointed as the new President and CEO of Norsk Hydro ASA?

Eivind Kallevik has been appointed as the new President and CEO of Norsk Hydro ASA, effective May 13, 2024.

Who is Eivind Kallevik and what is his background?

Eivind Kallevik has over 30 years of experience in Norwegian and international finance and industry. He has held various senior management positions within Hydro, including CFO and Executive Vice President.

Who is stepping down as President and CEO of Norsk Hydro ASA?

Hilde Merete Aasheim has decided to step down as President and CEO of Norsk Hydro ASA after five years. She will leave the company by the end of June 2024.

What are Eivind Kallevik's plans for Hydro's future?

Eivind Kallevik aims to lead Hydro towards 2030 and beyond by focusing on low-carbon efforts, strategic partnerships, cost control, continuous improvement, and developing innovative technologies.

How has Hilde Merete Aasheim contributed to Norsk Hydro ASA during her tenure?

Hilde Merete Aasheim has led Hydro through significant changes, strengthened profitability, and lifted the sustainability agenda during her 17-year tenure.