Board of directors
| Name |
Position |
Term expires |
| Terje Vareberg |
Chairperson |
2008 |
| Grete Faremo |
Deputy chairperson |
2008 |
| Finn Jebsen |
Director |
2008 |
| Heidi M. Petersen |
Director |
2008 |
| Bente RaTDe |
Director |
2008 |
| Svein Rennemo |
Director |
2008 |
| Billy Fredagsvik |
Director |
2009 |
| Jørn B. Lilleby |
Director |
2009 |
| Sten Roar Martinsen |
Director |
2009 |
Corporate Management Board
| Name |
Position |
| Eivind Reiten |
President and Chief Executive Officer |
| Odd Ivar Biller |
Executive Vice President Legal and Corporate Social Responsibility |
| Svein Richard Brandtzæg |
Executive Vice President Products |
| Anne Harris |
Executive Vice President HR and Organization Development |
| John Ove Ottestad |
Executive Vice President and Chief Financial Officer |
| Jørgen C. Arentz Rostrup |
Executive Vice President Energy |
| Tom Røtjer |
Executive Vice President Projects |
| Torstein Dale Sjøtveit |
Executive Vice President Metal |
Quick overview
Hydro is a public limited company organized under Norwegian law with a governance structure based on Norwegian corporate law. Our corporate governance has been designed to provide a foundation for value creation and to ensure good control mechanisms. We maintain common requirements in the form of corporate directives that are mandatory for all parts of our organization.
The corporate directives help ensure that all our employees carry out their activities in an ethical manner and in accordance with current legislation and Hydro standards. The board of directors has approved our code of conduct, which applies to all employees throughout the world, as well as to board members of Hydro and its subsidiaries. The code addresses compliance with laws and other matters such as handling of conflicts of interest and a commitment to equal opportunities for all employees. Our Integrity Program contributes to compliance with anti-corruption legislation and basic human rights.
Highlights
Major change in Board composition
Terje Vareberg was elected new chairperson of the Board in November 2007.
Hydro delisted from the New York Stock Exchange and subsequently deregistered and terminated its reporting obligations under the US Securities Exchange Act of 1934.
The merger between Hydro’s oil and gas activities and Statoil resulted in major changes both in the Board of Directors and the Corporate Management Board.
We comply with the Norwegian Code of Practice for Corporate Governance of December 2007.
Download the complete chapter: Corporate governance (0.58 MB)
