Du är här

2014-05-27

Norsk Hydro: New chair of the Board and new board member in Hydro

The Corporate Assembly in Norsk Hydro ASA on Tuesday approved Dag Mejdell as
new chair of the Board of Directors and one new member of the company's Board
of Directors, Irene Rummelhoff.

Terje Vareberg resigns from the Board of Directors and will be replaced by Dag
Mejdell as new chair of the Board effective from May 27, 2014. Victoire de
Margerie resigns from the Board of Directors and will be replaced by Irene
Rummelhoff as a shareholder-elected board member as of May 27, 2014. The
Board of Directors is reduced by one member from 11 to 10.

After Tuesday's election, the Board of Directors in Hydro consists of chair
Dag Mejdell, deputy chair Inge Hansen, shareholder-elected board members Finn
Jebsen, Liv Monica Bargem Stubholt, Eva Persson, Pedro Rodrigues and Irene
Rummelhoff, and the employee-elected board members Billy Fredagsvik, Sten
Roar Martinsen and Ove Ellefsen.

Hydro's board members are elected for a period of up to two years. This year,
the shareholder-elected representatives were up for election. All members of
the board were elected for a period of two years.

Dag Mejdell (born 1957) is from Oslo and is President and CEO of Nordic mail
and logistic group, Posten Norge AS. He joined the board in Hydro in 2012. He
is currently chair of International Post Corporation and the Employers
Association Spekter and SAS AB. Mejdell also holds directorships within the
Posten group.

Irene Rummelhoff (born 1967) is from Stavanger and is Senior Vice President
Exploration Norway in Statoil ASA.

For more information on the Board of Directors in Norsk Hydro ASA, visit
Hydro's web site:
http://www.hydro.com/en/About-Hydro/Organization/Management-and-board/Bo...

Investor contact
Contact Pål Kildemo
Cellular +47 97096711
E-mail Pål.Kildemo@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

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.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norsk Hydro via Globenewswire

HUG#1788535

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.