StatoilHydro elects board

The corporate assembly of Statoil ASA has elected the board of directors for StatoilHydro. Hydro chief Eivind Reiten was elected as chair of the board with eight votes for and four against. Marit Arnstad was elected as deputy chair.

StatoilHydro becomes one company from Oct. 1st, 2007, and includes the oil and gas assets of the former Norsk Hydro.

Elisabeth Grieg, Grace Reksten Skaugen, Kjell Bjørndalen, Roy Franklin and Kurt Anker Nielsen were elected as members of the board.

In line with the merger agreement between Statoil and Hydro, the shareholder-elected directors will have a term of office until 2010.

The employee-elected representatives on Statoil’s present board, Lill-Heidi Bakkerud, Claus Clausen and Morten Svaan will also be employee directors in StatoilHydro. In addition, two representatives of the employees in Hydro, Ragnar Fritsvold and Geir Nilsen, will attend board meetings.