“Brandtzæg managed the company with a steady hand and in a robust manner and made Hydro a leading aluminum company worldwide. The Board of Directors is convinced that he is the most suitable CEO to lead the company into the future. "
After Brandtzæg informed Hydro's board of directors in July that he would step down as Hydro's CEO to become CEO of Yara International ASA, a Norwegian fertilizer company, the board asked him to reconsider his decision. Brandtzæg has now decided to cancel his resignation and remain Hydro's CEO. His decision was welcomed and accepted by the Board of Directors.
“I found that the most interesting and rewarding challenges are right here at Hydro. Hydro's position on a commercial and operational level combined with the best workforce in the industry opens up promising opportunities for a future that I want to be part of, "said CEO Svein Richard Brandtzæg.
"My place with hydro and aluminum remains my first choice."
Brandtzæg joined Hydro in 1986 and has held many managerial positions, including He was Head of Aluminum Products, Head of Rolled Products, Head of Metal Products and Head of Magnesium. He has been Hydro's CEO since March 2009.
The conditions for Brandtzæg remain unchanged.