The new Act provides for one Governor and one Deputy Governor instead of a Board of Governors. Decisions on applying the Central Bank's monetary policy instruments will henceforth be taken by a Monetary Policy Committee. In other respects, the Bank's direction will be in the hands of the Governor. Upon the entry into force of the Act, the Board of Governors of the Central Bank of Iceland will be abolished, together with the positions of the three Governors currently sitting on the Board, including the position of Chairman of the Board of Governors. Pursuant to the new Act, the Prime Minister has decided to appoint Svein Harald Øygard to act as interim Governor and Arnór Sighvatsson, the current chief economist of the bank, as interim Deputy Governor. The interim Governor and Deputy Governor will hold these positions until appointments have been made by the Prime Minister on the basis of advertisements, in accordance with the provisions of the Act. Please find the attached CV for Svein Harald Øygard Svein Harald Øygard has been a Director in McKinsey & Company. Svein Harald works mainly with companies in the field of energy, public policy, industry and finance on issues related to strategy, organization, growth/business build, performance improvement and public policy. Prior to joining McKinsey, Svein Harald worked for 11 years in the Central Bank of Norway, The Ministry of Finance of Norway and in the Norwegian Parliament as business cycle analyst, senior executive officer, permanent secretary to the Economic Policy Committee of the Norwegian Parliament and as economic advisor to the Norwegian Labor Party Parliamentary Group. While in the Ministry of Finance, he represented the Ministry in multiple negotiation committees and in the Technical Committee preparing the basis for the Norwegian wage and income negotiations. He was also responsible for the Ministry's Inflation analysis and for providing the link between the Ministry's macro analysis and price and wage modeling. In his last position, he served as the State Secretary in the Ministry of Finance of Norway (1990-94). His responsibilities included macroeconomics, the interplay of fiscal and monetary policies, financial sector regulations, structural policies and taxation. Among others, he led the 1992 taxation review, the task force preparing the Long Term Program of the Norwegian Government and the report on the possible economic impact of a Norwegian EU membership. He participated in the teams addressing the 1992 Norwegian banking and currency crisis. Svein Harald holds a Cand. Oecon (economy, statistics) degree from the University of Oslo, with a major in Macroeconomic planning. He also has a degree in Social Science and Public Administration. Svein Harald has worked for McKinsey & Company since February 1995. He has worked with clients across Europe, the Americas, Asia, the Mid-East and Africa in his years working with McKinsey
- Act no. 5/2009 amending the Act on the Central Bank of Iceland, no. 36/2001 - New interim Governor and Deputy Governor appointed
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