People: Norsk Hydro ASA (NHY.OL)

Mr. Terje Vareberg has been Chairman of the Board of Directors of Norsk Hydro ASA since November 8, 2007. Previously he worked for the Ministry of Trade and Industry, and the Ministry of Petroleum before joining the Refining and Marketing division of Statoil, where he remained from 1979 to 1983. He was Managing Director of Agro Fellesslakteri from 1983 to 1989, before returning to Statoil, where he was Executive Vice President and Member of Corporate Management from 1989 to 1999. He has held a number of Board positions in Norwegian industry and is currently Chairman of the Board of Directors of Bergli Radgivning AS, TS Eiendom AS, T Stangeland Maskin AS, NorDan AS,Malthus AS, Ipark AS, Aarsland Mobelfabrikk AS, Fabrikkveien II AS, Aarsland Holding II AS and Solstad Trading AS, as well as Board Member of Solstad Offshore ASA, Energy Ventures IV AS, Lardal Finans AS and Farsund Vekst AS.He is also Member of the Supervisory Board of SpareBank 1 SR Bank ASA.Mr. Vareberg holds a Master of Science degree in Business from Norwegian School of Economics and Business Administration (Norges Handelhoyskole, Bergen - NHH). He is Chairman of the Board's Compensation Committee at the Company.