Ditlev-Simonsen leaves Hydro

(Sep. 19, 2007) Cecilie Ditlev-Simonsen is leaving her position as executive vice president in Hydro.

This was announced by Hydro’s acting board chairperson Elisabeth Grieg, who on behalf of the company has signed the agreement with Ditlev-Simonsen. Grieg says she is pleased that the parties have reached a mutually acceptable solution.

"I have previously said that my heart is in Hydro, and that is still the case. But the situation that has arisen after it became known that I did not declare a maternal inheritance to the Norwegian tax authorities in 1991 has made it difficult for me to continue in my position," says Ditlev-Simonsen in a statement.

"Cecilie has been a highly competent chief communications officer and a good colleague in Hydro’s management team," says Hydro President and CEO Eivind Reiten. "I regret this situation, but see that it is difficult for Cecilie to continue in her position. I want to thank her for the good work she accomplished in communications and wish her all the best for the future," Reiten says.

Cecilie Ditlev-Simonsen is exempt from an obligation to work. During her notice period, Ditlev-Simonsen will be available for the company, to a reasonable extent. After a six-month period of notice, she will obtain a salary guarantee for an 11-month period with other taxable income and remuneration deducted from the salary.

Vice president Inger Sethov will continue to act in Ditlev-Simonsen’s position until further notice.

• Press contact:
  Inger Sethov
  Mobile: (+47) 95022359