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Norsk Hydro: Brandtzæg leaves Hydro and goes to Yara

Svein Richard Brandtzæg, President and CEO of the Norwegian aluminum company Norsk Hydro ASA has informed the Board of Directors that he is leaving Hydro to become President and CEO of the Norwegian fertilizer group Yara International ASA. He will take up the new position on February 1, 2015 at the latest.

The process to find a successor for Brandtzæg has already started. Who will take over as Hydro's new CEO will be announced at a later date. Brandtzæg remains Hydro's CEO until further notice.

“The Board of Directors regrets Brandtzæg's decision to leave the company. For almost 30 years, Brandtzæg has been a great asset to Hydro, especially as Group CEO since 2009. Together with a solid and extremely competent group management, he has managed the company through difficult times with weak markets and initiated measures to ensure that we are successful Are prepared for the future as a global aluminum company, "says Hydro Dag Mejdell, Chairman of the Board of Directors.

"His determination and commitment to improve Hydro's market position and cost position, primarily through its ambitious $ 300 improvement program, has made Hydro a leader in the industry in terms of operational performance. Concentrating on operational performance has become a trademark for Hydro and will continue to be carried out with full strength under a new management, "says Mejdell." We wish him all the best in his new position. "

Brandtzæg joined Hydro in 1985 and held various positions, including Head of Aluminum Products, Head of Rolled Products, Head of Metal Products and Head of Magnesium. He has been CEO since March 2009.

"It was a difficult decision, but I thought the time was right to face new challenges," said CEO Svein Richard Brandtzæg.

“It is a privilege to have worked in Hydro for so many exciting years. I would like to thank my capable colleagues in the entire value chain. They have enabled Hydro to position itself as one of the world's leading aluminum companies. My commitment continues to focus on implementing Hydro's agenda until a new CEO starts working, "says Brandtzæg.

This text is machine translated. To view the original German text, click on DE on the top right of this window

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