OSLO, Norway, June 13, 2002 (PRIMEZONE) -- Four new candidates to serve as shareholder elected directors on the Statoil ASA (NYSE:STO) board have been nominated by the election committee today, June 13.
Both Finn Hvistendal and Knut Am have been proposed for re-election, while Leif Terje Loeddesoel is nominated as a new director and candidate for the chairmanship.
Mr. Hvistendal served for many years in the top management at Norsk Hydro and as president of Den norske Bank, while Mr. Am has been a senior Phillips Petroleum executive. Mr. Loeddesoel is chairman of the Wilh Wilhelmsen shipping group.
The three other new candidates are Maurey Devine, Grace Skaugen and Eli Saetersmoen.
Ms. Devine has broad experience of the petroleum industry from her career in Mobil, including a period as managing director of Mobil Norway.
Well acquainted with both international and American politics, she is currently a fellow at the Belford Centre for Science and International Affairs at Harvard University. Dr. Skaugen has solid academic qualifications, including a doctorate in physics and a master of business administration (MBA). She also has experience from investment banking as finance vice president at Orkla Enskilda Securities.
Educated as a petroleum engineer, Eli Saetersmoen has worked for Norsk Hydro and gained management experience at McKinsey. She is currently finance vice president for the Selvaag group.
"We're very satisfied with the high level of expertise among these candidates, and with the fact that half of them are women," said Jens UlltveitMoe, who chairs the election committee. Anne Cathrine Slungard has also been recommended as chair of Statoil's corporate assembly, with Wenche Meldahl as her deputy.