Terje Vareberg
Chair
Curriculum vitae Terje Vareberg has been chairperson of the Board since November 2007. He has been managing director of Sparebank 1 SR-Bank since 1999. From 1989 onwards he was executive vice president and a member of corporate management in Statoil. In 1983 he became managing director of Agro Fellesslakteri. From 1979 he worked in the refining and marketing division of Statoil. Before that he worked for the Ministry of Trade and Industry and the Ministry of Petroleum. Vareberg has held a number of board positions in Norwegian industry and is currently chair of the Norwegian Savings Bank Association as well as of the International Research Institute of Stavanger AS. He is vice chairman of the board of Rogaland Theater and sits on the board of Sparebank 1 Gruppen. Vareberg is a graduate of the Norwegian School of Economics and Business Administration (NHH)

Sten Roar Martinsen
Director
Curriculum vitae Sten Roar Martinsen has been a member of the Board since 2005. He is employed in Hydro as a process operator and represents members of the Norwegian Confederation of Trade Unions (LO). He is a full time union official.

Grete Faremo
Deputy chair
Curriculum vitae Grete Faremo has been deputy chairperson of the Board since November 2007 and member of the Board since 2006. She is currently director for legal and corporate affairs in Western Europe for Microsoft. She was executive vice president of Storebrand Insurance Company from 1997 to 2003. Faremo has held a range of political positions for the Norwegian Labour Party. She was an elected member of Stortinget, the Norwegian Parliament, from 1993 to 1997. In 1996 she was minister of oil and energy, and from 1992 to 1996 she was minister of justice. From 1990 to 1992 she was minister of international development. She currently chairs the board of Abelia and is deputy chairperson of the Norwegian Defence Research Establishment. Faremo gained a law degree at the University of Oslo in 1978.

Jørn B. Lilleby
Director
Curriculum vitae Jørn B. Lilleby has been a member of the Board since October 2007. He is employed by Hydro Aluminium as a maintenance supervisor and is currently full time union official in Norsk Hydro ASA. He represents the employees through the Central Cooperative Council (Sentralt Samarbeidsråd). Lilleby chairs the board of the community of interest ENGN Grimsmoen airfield. He is member of the board of Ottem Transport and Ottem Resirk. He holds a Master of Science in mechanical engineering from the Norwegian Institute of Technology.

Bente Rathe
Director
Curriculum vitae Bente Rathe has been a member of the Board since November 2007. She is an independent businesswoman. During the period from 1989 to 2002 she was part of of the corporate management of Forenede Forsikring – the Gjensidige group and Gjensidige NOR, most recently as deputy CEO. She started her career with E. A. Smith A/S of Trondheim, where she advanced to become deputy chief executive officer and director of finance. She has held a number of board appointments in Norwegian industrial and financial enterprises. She is currently member of the board of Kongsberg Automotive ASA, Powel ASA and Svenska Handelsbanken AB, Sweden. She is a graduate of the Norwegian School of Economics and Business Administration (NHH) and holds a master’s degree in Business Administration from the University of Denver.

Svein Rennemo
Director
Curriculum vitae Svein Rennemo has been a member of the Board since November 2007. He has been CEO of Petroleum Geo-Services ASA since 2002. From 1994 to 2001 he was employed by Borealis, Copenhagen, initially as deputy CEO and CFO, then from 1997 as CEO. He was employed by Statoil from 1982 to 1994 where, among other positions, he was director of economy and finance. He also discharged various duties within the company’s downstream operations, most recently as managing director for the Petrochemicals division. On graduation he became an economic policy adviser at the Ministry of Finance, Norges Bank and the OECD Secretariat in Paris. Rennemo chairs the board of Statnett SF and the board of Intopto AS. He will become chair of the board of StatoilHydro April 1st, 2008, and stepped down from Hydro’s Board March 12th. Rennemo holds a degree in economics from the University of Oslo.

Billy Fredagsvik
Director
Curriculum vitae Billy Fredagsvik has been a member of the Board since October 2007. Fredagsvik became a member of Corporate Assembly in 2005 and held that position until he became a member of the Board. He is employed in Hydro as a process operator, and represents members of the Norwegian Confederation of Trade Unions. Fredagsvik is a full-time union official at Hydro in Høyanger, Norway.

Heidi M. Petersen
Director
Curriculum vitae Heidi M. Petersen has been a member of the Board since November 2007. Petersen is an independent businesswoman. In the period from 2000 to July 2007 she was managing director of Future Engineering AS and Rambøll Oil & Gas AS, Sandefjord (Future was sold to Rambøll Gruppen A/S in 2004). She was employed in Kværner Oil & Gas from 1988 where she held different positions in offshore and land-based industrial assignments, until she became head of Kværner Oil & Gas AS in Sandefjord in 1997. Here she headed a management buy-out that led to the start-up of Future Engineering in 2000. She currently chairs the board of Sandefjord Airport and is a member of the boards of Aker Kværner ASA, Glamox ASA, Ocean Heavy Lift ASA and Awilco Offshore ASA. She holds a Master of Science degree from the University of Trondheim.

Finn Jebsen
Director
Curriculum vitae Finn Jebsen has been a member of the Board since November 2007. He is an independent businessman. Jebsen was CEO of Orkla ASA from 2001 to 2005. From 1980 he was employed by the Orkla group, becoming a member of the group’s main management team in 1984. He has held a number of positions in Boards, and from 1991 to 2005 he was chairman of the board at Elkem AS. He currently holds the following appointments: chair of the board of Kongsberg Gruppen ASA and Kavli Holding AS, deputy chair of KLP Forsikring, and member of the boards of Anders Wilhelmsen & Co AS and Berner Gruppen AS. He is also a member of the board of his fully owned investment company Fateburet AS. Jebsen is a graduate of the Norwegian School of Economics and Business Administration (NHH) and holds a master’s degree in Business Administration from the University of California, Los Angeles.