Skip to content
The two new board members replace Heidi M. Petersen and Grete Faremo. Faremo resigned from the board in October 2009, after she was appointed Norway’s Minister of Defense.

After Friday’s election, the Board of Directors in Norsk Hydro ASA consists of Chairperson Terje Vareberg, Deputy Chairperson Bente Rathe, shareholder-elected board members Finn Jebsen, Inge K. Hansen, Liv Monica Bargem Stubholt and Eva Persson, and the employee-elected board members Billy Fredagsvik, Jørn B. Lilleby and Sten Roar Martinsen.

Hydro’s board members are elected for a period of two years. In practice the employee-elected members and the shareholder-elected members are up for re-election every other year. This year, the shareholder-elected representatives were up for election.

Liv Monica Bargem Stubholt (born 1961) is from Oslo and is acting chief executive of Aker Seafoods ASA and responsible in Aker ASA for Aker Clean Carbon ASA.

Eva Persson (born 1953) is from Gothenburg, Sweden, and is general counsel in the Volvo Group and member of the Volvo Group Executive Committee.


Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management’s plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro’s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.  Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized.  Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro’s key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct.  Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.