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Norsk Hydro CEO Reiten quits, Brandtzaeg appointed

Mon Jan 12, 2009 2:51am EST

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OSLO, Jan 12 (Reuters) - Norwegian aluminium producer Norsk Hydro (NHY.OL) announced on Monday that Chief Executive Eivind Reiten has chosen to step down at the end of March and he will be succeeded by Svein Richard Brandtzaeg.

"The board regrets that Eivind Reiten has decided to resign, but has respect and understanding for his decision in light of the long period he has led the company," Norsk Hydro's chairman of the board Terje Vareberg said in a statement.

Reiten has been CEO for eight years.

Brandtzaeg, age 51, is head of Hydro's Aluminium Products business area. (Reporting by John Acher)



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