Simen Lieungh has been appointed President and CEO of Aker Kværner. He succeeds Martinus Brandal, who has been appointed Aker ASA's Executive Vice President in charge of Energy Technologies. Martinus Brandal will be proposed as new Aker Kværner Board Chairman.
- These organizational changes strengthen the business development opportunities of Aker and Aker Kværner and promote value creation in Aker's energy sector businesses, says Leif-Arne Langøy, Aker CEO and Board Chairman; Langøy is also Board Chairman of Aker Kværner. "Another gain is that greater managerial capacity and quality at Aker Kværner enable the company to more fully exploit its many competitive advantages and optimize its growth trajectory."
Aker has long industrial traditions in the energy sector. Since 2004 alone, the Group has established several new energy-related companies, among them Aker Drilling, Aker Floating Production, Aker Exploration, Aker Oilfield Services, Aker DOF Supply, and Aker Clean Carbon.
- Throughout 2007, Aker has freed up significant capital and thus secured our capacity for further development in energy and other industrial sectors. The appointment of Martinus Brandal to Aker's management team strengthens our ability in these arenas while maintaining continuity and strong and effective leadership at Aker Kværner, says Mr. Langøy.
In the autumn of 2007, Aker ASA organized its activities into five sectors. Each business sector is headed by a Group EVP, who generally is the board chairman of the companies in that sector.
The 3 April 2008 annual general meeting of Aker Kværner will elect a new board chairman. Aker Kværner's nomination committee has already decided to recommend the election of Martinus Brandal as new board chairman.
For additional information, see the notice from Aker Kværner regarding the aforementioned organizational matters.
For further information, please contact:
Geir Arne Drangeid, Group EVP, Aker ASA, tel: +47 913 10 458