The changes will take effect on March 30, 2009 when Svein Richard Brandtzæg takes over as the new Chairman and CEO of Eivind riding.

As part of the reorganization, the current business areas Aluminum Metal and Aluminum Products are split into two. Instead of the previous four, there will now be six business areas in the group: Energy, Primary Metal, Metal Markets, Rolled Products, Extruded Products and Projects.

All business areas will be represented on the group board.

"The renewal of our organizational model is an important step towards a flatter organization that is more determined by the markets and companies. & nbsp; This step will also ensure that we coordinate Hydro's integrated value creation more closely, ”said CEO and CEO Eivind riding.

"A flatter structure, combined with a leaner corporate headquarters tailored to our integrated business model, will increase efficiency in all links of the value chain," says the designated CEO and CEO, Svein Richard Brandtzæg, who still runs the Aluminum Products business unit with around 16,500 employees in 40 countries.

"Today the tough market situation makes the upcoming changes even more necessary, not least in connection with our efforts to reduce costs internally," said Brandtzæg.

Metal division divided into two

Aluminum Metal is divided into Primary Metal, which is responsible for all aluminum smelters and primary metal foundries at Hydro as well as the activities in bauxite and alumina, and also Metal Markets with responsibility for sales, recycling, remelting and trading of metal.

Hilde Merete Aasheim, currently Head of Aluminum Metal, will be responsible for Primary Metal as Group Executive Board. The management of Metal Markets will be announced later.

Aluminum Products is divided into Rolled Products with responsibility for Hydro's rolling mills and Extruded Products for the profiles and construction systems business. Rolled Products, with its main operations in Germany, will continue to be headed by Oliver Bell, who has now been appointed Executive Vice President and will join Hydro's Board of Directors. Bell is German and the first non-Norwegian member of Hydro's Board of Directors.

Extruded Products is headed by Johnny Undeli, who also joins the Executive Board as a member. Undeli is currently leading Extruded Products Eurasia.

Brandtzæg adds that the reorganization reflects Hydro's strategy of continuing to grow as a competitive and leading integrated aluminum company.

All changes will take effect on March 30, 2009.