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Statoil ASA (STL.OL)

STL.OL on Oslo Stock Exchange

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25 Jul 2016
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Summary

Name Age Since Current Position

Oystein Loseth

58 2015 Independent Chairman of the Board

Eldar Saetre

60 2015 President, Chief Executive Officer

Roy Franklin

63 2015 Independent Deputy Chairman of the Board

Hans Hegge

47 2015 Chief Financial Officer, Executive Vice President

Anders Opedal

48 2015 Chief Operating Officer, Executive Vice President

Margareth Ovrum

57 2004 Executive Vice President, Technology, Projects and Drilling (TPD)

Jens Okland

47 2015 Executive Vice President of Marketing, Midstream & Processing (MMP)

Lars Bacher

52 2012 Executive Vice President, Development and Production International (DPI)

Timothy Dodson

57 2011 Executive Vice President, Exploration (EXP)

John Knight

58 2011 Executive Vice President, Global Strategy and Business Development (GSB)

Arne Nylund

56 2014 Executive Vice President, Development and Production Norway (DPN)

Torgrim Reitan

47 2015 Executive Vice President, for Development & Production USA (DPUSA)

Irene Rummelhoff

49 2015 Executive Vice President of New Energy Solutions (NES)

Wenche Agerup

52 2015 Director

Lill-Heidi Bakkerud

53 2004 Director, Employee Representative

Ingrid di Valerio

52 2013 Director, Employee Representative

Stig Laegreid

53 2013 Director, Employee Representative

Jeroen van der Veer

68 2016 Director

Bjorn Godal

71 2010 Independent Director

Rebekka Herlofsen

46 2015 Independent Director

Maria Oudeman

57 2012 Independent Director

Jakob Stausholm

48 2009 Independent Director

Peter Hutton

2014 Senior Vice President

Biographies

Name Description

Oystein Loseth

Mr. Oystein Loseth has been Independent Chairman of the Board of Directors of Statoil ASA since July 1, 2015. He has been Independent Member of the Board of the Company since October 1, 2014. He is Member of the Compensation and Executive Committee. He has managerial experience in the energy sector, with particular expertise and experience from the European energy market. Since April 1, 2015 he has been Chair of the Board of Eidsiva Energi. In the period 2010 - 2014, Loseth was CEO, and before that as a First Senior Executive Vice President since 2009, of Vattenfall AB. In the period 2003 - 2009, Loseth worked for NUON, the Dutch energy company, first as Division Managing Director, then as a Managing Director and the CEO, from 2005 and 2008 respectively. Prior to this, Loseth was the Head of Production, Business Development and R&D of Statkraft from 2002 to 2003. In addition, he has other management experience from Statkraft and Statoil, within strategy and business development among others. He graduated as M.Sc. from the Norwegian University of Science and Technology and as B.Sc. in Business Management from BI Norwegian School of Management in Bergen.

Eldar Saetre

Mr. Eldar Saetre has been President and Chief Executive Officer at Statoil ASA since February 4, 2015. He was Acting President and Chief Executive Officer of the Company from October 15, 2014 until February 4, 2015. He served as Executive Vice President for Marketing, Processing and Renewables from January 2011 until October 15, 2014. Prior to this, he was Executive Vice President and Chief Financial Officer of the Company from October 2003 until December 2010. He joined the Company in 1980. Mr. Saetre is Member of the Boards of Stromberg Gruppen AS and Trucknor AS. He holds a Master of Arts degree in Business Economics from Norges Handelshoyskole, Bergen - NHH.

Roy Franklin

Mr. Roy Alexander Franklin has been Independent Deputy Chairman of the Board of Directors of Statoil ASA since July 1, 2015. He is also Chairman of the board’s Safety, sustainability and ethics committee and Member of Audit Committee at the Company. He served as Independent Member of the Board of Directors of Statoil ASA between October 1, 2007 and June 1, 2013. He is Non-executive Chairman of the board of Keller Group plc, a London-based international engineering company and Cuadrilla Resources Holdings Limited, a privately held UK company focusing on unconventional energy sources and Board member of the Australian oil and gas company Santos Ltd, the private equity firm Kerogen Capital Ltd and the London-based international engineering company Amec Foster Wheeler. During the course of his carrier, he has held various managerial positions at BP, Paladin Resources plc and Clyde Petroleum plc. He holds a Bachelor of Science degree in Geology from Southampton University, United Kingdom.

Hans Hegge

Mr. Hans Jakob Hegge has been appointed Chief Financial Officer and Executive Vice President of Statoil ASA, effective as of August 1, 2015. Hegge has held several managerial positions in Statoil, including Senior Vice President (SVP) for Operations North in Development and Production Norway (DPN) (2013-2015), SVP for Operations East (2011-2013) in DPN, SVP for Operational Development in DPN (2009-2011) and SVP for Global Business Services in Chief Financial Officer area (CFO) (2005-2009). From 1995 to 2004 he held various positions in DPN, Natural Gas business area and corporate functions in Statoil. Hegge holds a Master of Science degree in Business from Norges Handelshoyskole, 1994.

Anders Opedal

Mr. Anders Opedal has been appointed Chief Operating Officer and Executive Vice President at Statoil ASA effective as of April 1, 2015. Anders Opedal joined Statoil in 1997 as a petroleum engineer in the Statfjord operations. He has held a range of positions in Drilling and well, Procurement and projects. In 2011 Opedal took on the role as Senior Vice President for Projects in Technology, Projects and Drilling (TPD) responsible for Statoil’s approximately NOK 300 billion project portfolio. Before joining Statoil, Opedal worked for Schlumberger and Baker Hughes. He holds Master of Business Administration degree from Heriot-Watt University and an engineering degree from NTH.

Margareth Ovrum

Ms. Margareth Ovrum has served as Executive Vice President, Technology, Projects and Drilling (TPD) at Statoil ASA since September 2004. She joined the Company in 1982 and has held central management positions within the Company, including the roles of Executive Vice President for Health, Safety and the Environment, and Executive Vice President for Technology & Projects. Apart from that, she was Platform Manager on the Gullfaks field, Senior Vice President for Operations for Veslefrikk, and Vice President of Operations Support for the Norwegian continental shelf. Ms. Ovrum is Member of the Board of Directors of Atlas Copco AB and Alfa Laval. She holds a Master’s degree in Engineering from Norges Tekniske Hoyskole, Trondheim (NTH), now Norges Teknisk-Naturvitenskapelige Universitet – NTNU, specializing in Technical Physics.

Jens Okland

Mr. Jens Okland has been appointed Executive Vice President of Marketing, Midstream & Processing (MMP) at Statoil ASA, effective as of June 1, 2015. He joined Statoil in 1994 and has mainly worked in the midstream and downstream sectors. He was previously senior vice president in MPR where he was responsible for Portfolio and Supply and US Gas in MPR Natural Gas. In 2013 he moved to DPN to the position as VP of Operations for the Asgard area. His extensive experience in the downstream sector and varied exposure to both international and operational areas of the business gives him a strong background to lead the new MP organization and as a member of the CEC. Okland holds a Master of Science degree in Business from Handelshoyskolen BI, 1994.

Lars Bacher

Mr. Lars Christian Bacher has served as Executive Vice President for Development and Production International (DPI) at Statoil ASA since September 1, 2012. He joined the Company in 1991, and has held a number of management positions including platform manager at the Norne and Statfjord fields on the Norwegian continental shelf. He was also Senior Vice President for Gullfaks operations and later for the Tampen area. His most recent position, which he held from September 2009, was that of Senior Vice President for Statoil’s Canadian operations within Development & Production North America (DPNA). Mr. Bacher is a graduate engineer in Chemical Engineering from Norges Teknisk-Naturvitenskapelige Universitet NTH (the Norwegian University of Science and Technology), and holds a Master’s degree in Finance from Norges Handelshoyskole, Bergen - NHH (the Norwegian School of Economics).

Timothy Dodson

Mr. Timothy (Tim) Dodson has served as Executive Vice President, Exploration (EXP) at Statoil ASA since January 1, 2011. He joined the Company in 1985 and has held central management positions, including, among others, Senior Vice President for Global Exploration at Exploration and Production Norway and the technology area. Mr. Dodson holds a Master of Science degree in Geology and Geography from the University of Keele.

John Knight

Mr. John Knight has served as Executive Vice President, Global Strategy and Business Development (GSB) at Statoil ASA since January 1, 2011. He joined the Company in 2002 and has held several managerial positions within the Company's International Operations. He started his professional career as lawyer/barrister in 1977 and joined Shell Petroleum in 1985. Between 1987 and 2002, he held a number of positions within energy investment banking. He is Member of the Advisory Board of the Columbia University Center on Global Energy Policy in New York, Chairman of ONS16 Conference Committee in Stavanger, Norway and Member on the advisory board of Imperial College Business School MsC Climate Change Management and Finance in London. Mr. Knight holds his first and post graduate degrees in Law from Cambridge University and the Inns of Court School of Law in London (City University, London).

Arne Nylund

Mr. Arne Sigve Nylund has been appointed Executive Vice President, Development and Production Norway (DPN) at Statoil ASA, effective as of January 1, 2014. He was employed by Mobil Exploration Inc. from 1983-1987. Since 1987, Nylund has held several central management positions at the Company. He is Member of the Board of Directors of The Norwegian Oil & Gas Association (Norsk Olje & Gass). He holds Mechanical engineer degree from Stavanger College of Engineering with further qualifications in operational technology from Rogaland Regional College/University of Stavanger (UiS) and is Business graduate of the Norwegian School of Business and Management (NHH).

Torgrim Reitan

Mr. Torgrim Reitan has been appointed Executive Vice President, for Development & Production USA (DPUSA) of Statoil ASA, effective as of August 1, 2015. he no longer serves as Chief Financial Officer and Executive Vice President at the Company, effective as of August 1, 2015. He has held this position since January 1, 2011. His previous positions within the Company include Senior Vice President (SVP) in Trading and Operations in the Natural Gas business area (2009-2010), SVP in Performance Management and Analysis (2007-2009) and SVP in Performance Management, Tax and M&A (2005-2007), among others. From 1995 until 2004, he held various positions in the Natural Gas business area and corporate functions in Statoil. Mr. Reitan holds a Master of Science degree from Norges Handelshoyskole, Bergen - NHH.

Irene Rummelhoff

Ms. Irene Rummelhoff has been appointed Executive Vice President of New Energy Solutions (NES) at Statoil ASA, effective as of June 1, 2015. She joined Statoil in 1991. She has held a number of management positions within international business development, exploration, and the downstream business in Statoil. She is also Member of the board of directors of Norsk Hydro ASA. She holds Master’s degree in petroleum geosciences from the Norwegian Institute of Technology (NTH).

Wenche Agerup

Ms. Wenche Marie Agerup has been Member of the Board of Directors of Statoil ASA since August 21, 2015. She is also Member at the Company Compensation and executive development committee and the board's Safety, sustainability and ethics committee. Agerup is an Executive Vice President and the Chief Corporate Affairs Officer in Telenor ASA. She was the Executive Vice President for Corporate Staffs and the General Counsel of Norsk Hydro ASA from 2010 to 31 December 2014. She has held various executive roles in Hydro since 1997, including within the company's M&A- activities, the business area Alumina, Bauxite and Energy, as a plant manager at Hydro's metal plant in Ardal and as a project director for a Joint Venture in Australia where Hydro cooperated with the Australian listed company UMC. Through her work in Hydro, Agerup has developed a significant business and strategic competence. Agerup is currently a board member of the seismic company TGS ASA. She holds Master of Arts in Law from the University of Oslo, Norway (1989) and a Master of Business Administration from Babson College, USA (1991).

Lill-Heidi Bakkerud

Ms. Lill-Heidi Bakkerud has been Employee Representative on the Board of Directors of Statoil ASA since 2004. She is Member of the Company's Safety, Sustainability and Ethics Committee. Previously, she served on the Company’s Board between 1998 and 2002. Ms. Bakkerud is Member of the Executive Committee of the Industry Energy (IE) trade union and holds a number of offices. Previously, she has worked as a process technician at the petrochemical plant in Bamble and on the Gullfaks field in the North Sea. She is a full-time employee representative as leader of the union Industri Energi’s Statoil branch. Ms. Bakkerud has a craft certificate as a process/chemistry worker.

Ingrid di Valerio

Ms. Ingrid Elisabeth di Valerio has been Member of the Board of Directors, Employee Representative at Statoil ASA since July 1, 2013. She is also Board member of First Scandinavia, Montanus AS and member of Tekna’s central nomination committee. She is Member of the Company's Audit Committee. She has been employed by Statoil since 2005. She works within materials discipline for Technology, Projects & Drilling. She was Tekna’s main representative in Statoil from 2008 to 2013. She also sat on Tekna’s central committee from 2005 to 2013. She is chartered engineer (mathematics and physics) who studied at the Norwegian University of Science and Technology in Trondheim (Norges Teknisk Naturvitenskapelige Universitet - NTNU).

Stig Laegreid

Mr. Stig Laegreid has been Member of the Board of Directors, Employee Representative at Statoil ASA since July 1, 2013. He is Member of the Company's Safety, Sustainability and Ethics Committee. He is Member of The Norwegian society for Engineers and Technologists’ (NITO) negotiation committee for private sector. He has been employed in ASV and Norsk Hydro since 1985. He was mainly occupied as project engineer and constructor for production of primary metals until 2005 and from 2005 as weight estimator for platform design. He is now a full-time employee representative as the leader of NITO, Statoil. He holds a Bachelor’s degree, mechanical construction from OIH.

Jeroen van der Veer

Mr. Jeroen van der Veer has been appointed as Member of the Board of Directors at Statoil ASA, effective March 18, 2016. Van der Veer was the Chief Executive Officer in the international oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business. Van der Veer is inter alia the chair of the supervisory boards of ING Bank NV and Royal Philips Electronics and member of the supervisory board of Boskalis Westminster Groep NV, and has significant competence within corporate governance.

Bjorn Godal

Mr. Bjorn Tore Godal has served as Independent Member of the Board of Directors of Statoil ASA since September 1, 2010. He is also Member of the Company's Compensation and Executive Development Committee and the Safety, Sustainability and Ethics Committee. Apart from his duties at Statoil, Mr. Godal chairs the Council of the Norwegian Defense University College (NDCU). He is also Vice Chairman of the Board of Fridtjof Nansen Institute (FNI). Formerly, he was Member of the Norwegian parliament for 15 years (1986-2001), and served as Minister for Trade and Shipping, Minister for Defense and Minister of Foreign Affairs for a total of eight years (1991-2001). Later in his career, he was Senior Advisor at the Institute of Political Science at the University of Oslo (2002-2003), Norway’s Ambassador to Germany (2003-2007), and most recently, Special Advisor for international energy and climate issues at the Ministry of Foreign Affairs (2007-2010). Mr. Godal holds a Bachelor of Arts degree in Political Science, History and Sociology from Universitetet i Oslo.

Rebekka Herlofsen

Ms. Rebekka Glasser Herlofsen has been Independent Member of the Board of Directors of Statoil ASA since March 19, 2015. She is also Member of the Audit Committee at the Company. She is also Member of the board of directors of DNV holding, DNV Foundation, DNV GL and member of the committee for tax and capital in the Norwegian Shipowners’ Association. Since 2012, Rebekka Herlofsen has been the Chief Financial Officer in the Norwegian shipping company Torvald Klaveness. She has broad financial and strategic experience from several corporations and board directorships. Herlofsen’s professional career began in the leading Nordic Investment Bank, Enskilda Securities, where she worked with corporate finance and equity analysis from 1995 to 1999. During the next ten years Herlofsen worked in the Norwegian shipping company Bergesen d.y. ASA (later BW Group). During her period with Bergesen d.y. ASA/BW Group she held leading positions within M&A, strategy and corporate planning. She holds Master of Science in Economics and Business Administration and Finance and Strategy and Certified Financial Analyst Program, the Norwegian School of Economics (NHH). She also completed Breakthrough Program for Top Executives at IMD business school, Switzerland.

Maria Oudeman

Ms. Maria (Marjan) Johanna Oudeman has served as Independent Member of the Board of Directors of Statoil ASA since September 15, 2012. She is also Member of the Company’s Compensation and Executive Development Committee. Apart from her duties at Statoil, she holds directorships at Solvay SA, Het Concertgebouw, Rijksmuseum and SHV Holdings. She is the President of Utrecht University in the Netherlands. From 2010 to 2013, Ms. Oudeman served as Member of the Executive Committee of Akzo Nobel, where she was responsible for Human Resources and Organizational Development. She also has experience as a line manager in the steel industry and an international business experience. She holds a Law degree from Rijksuniversiteit Groningen (Univeristy of Groningen) in the Netherlands and a Master of Business Administration degree from the University of Rochester, New York, the United States, and Erasmus University, Rotterdam, the Netherlands.

Jakob Stausholm

Mr. Jakob Stausholm has served as Independent Member of the Board of Directors of Statoil ASA since July 2009. He also chairs the Company's Audit Committee. Mr. Stausholm has been Chief Strategy, Finance and Transformation Officer of Maersk Line. Prior to this, he was Chief Financial Officer of ISS A/S (2008-2011). Earlier in his carrer, he spent 19 years with the Shell Group, serving as Vice President Finance at the group’s exploration and production in Asia and Pacific, Chief Internal Auditor and Chief Financial Officer of group subsidiaries. He holds a Master of Science degree in Economics from Koebenhavns Universitet.

Peter Hutton

Basic Compensation

Name Fiscal Year Total

Oystein Loseth

687,000

Eldar Saetre

14,165,000

Roy Franklin

394,000

Hans Hegge

1,997,300

Anders Opedal

4,230,000

Margareth Ovrum

6,192,000

Jens Okland

3,010,000

Lars Bacher

6,534,000

Timothy Dodson

6,865,000

John Knight

16,862,000

Arne Nylund

6,401,000

Torgrim Reitan

6,987,000

Irene Rummelhoff

2,758,000

Wenche Agerup

200,000

Lill-Heidi Bakkerud

457,000

Ingrid di Valerio

507,000

Stig Laegreid

457,000

Jeroen van der Veer

--

Bjorn Godal

550,000

Rebekka Herlofsen

387,000

Maria Oudeman

587,000

Jakob Stausholm

580,000

Peter Hutton

--
As Of  30 Dec 2015