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Kvaerner ASA (KVAER.OL)

KVAER.OL on Oslo Stock Exchange

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Summary

Name Age Since Current Position

Leif-Arne Langoy

61 2013 Chairman of the Board

Jan Haugan

54 2011 President, Chief Executive Officer

Tore Torvund

65 2011 Deputy Chairman of the Board

Idar Eikrem

2016 Chief Financial Officer, Executive Vice President

Elly Bjerknes

Executive Vice President Process Solutions

Sturla Magnus

2017 Executive Vice President Structural Solutions

Hans Molmen

2017 Executive Vice President Concrete and New Solutions

Steinar Rogenes

2015 Executive Vice President EPCI

Ellen Andersen

2017 Senior Vice President Staff

Henrik Inadomi

2017 Senior Vice President Corporate Support

Arnt Knudsen

2015 Senior Vice President Business Development

Lone Fonss Schroder

57 2016 Director

Stale Johansen

49 2011 Director, Employee Representative

Bernt Kilnes

68 2011 Director, Employee Representative

Rune Rafdal

54 2011 Director, Employee Representative

Kjell Rokke

59 2013 Director

Thorhild Widvey

61 2016 Director

Ingrid Aarsnes

Vice President Investors Relations & Communications

Biographies

Name Description

Leif-Arne Langoy

Mr. Leif-Arne Langoy has served as Chairman of the Board of Directors of Kvaerner ASA since April 10, 2013. Mr. Leif-Arne Langoy is chairman of the board for Det Norske Veritas and Sparebanken More. Mr. Langoy has gained senior executive experience from several companies, including as President & CEO of Aker Yards and Aker ASA. Mr. Langoy has extensive experience as the chairman of non-executive boards from a number of different industrial companies. Mr. Langoy holds M.Sc. in economics from the Norwegian School of Economics in Bergen, Norway.

Jan Haugan

Mr. Jan Arve Haugan has been President and Chief Executive Officer at Kvaerner ASA since August 1, 2011. Jan Arve Haugan started his professional career in the Norwegian construction company F. Selmer (now Skanska) and worked as Project Consultant in Terra Mar Project Management before he joined the Norwegian industrial conglomerate Norsk Hydro as Chief Engineer in 1991. He has had several leading positions in Hydro’s oil and gas projects and operations, and more recently in the aluminum business. From 2007 to 2009 he was Director of Technology and Global Smelter Operations. In 2009 he became CEO of Qatar Aluminium Ltd (Qatalum), a 50/50 joint venture between Qatar Petroleum and Hydro Aluminium, and one of the largest primary aluminum plants ever built in one phase. Mr. Haugan was Hydro’s project owner and technology provider for Qatalum in Hydro, before joining Qatalum as CEO. He holds a M.Sc. in construction management from the University of Colorado at Boulder, USA.

Tore Torvund

Mr. Tore Torvund has been Deputy Chairman of the Board of Directors of Kvaerner ASA since 2011. Mr. Tore Torvund is President & CEO of REC Silicon ASA. Mr. Torvund has senior executive experience from more than twenty years in the oil and gas industry, including as executive vice president of Exploration & Production Norway at the oil company StatoilHydro, and executive vice president of Oil and Energy at Norsk Hydro. He was also the chairman of the board of Oljeindustriens Landsforening (now Norsk olje & gass) in the period 2003–2008. He has held several management positions related to drilling operations, field development and technology projects. Mr. Torvund holds a M.Sc. in petroleum engineering from the Norwegian University of Science and Technology.

Idar Eikrem

Mr. Idar Eikrem has been Chief Financial Officer and Executive Vice President at Kvaerner ASA since April 1, 2016. He has comprehensive experience from a variety of top management positions, including financial management and turn-around processes. He was until 2014 executive vice president and CFO for the leading contracting group Aibel, and has also held management positions overseas for the same company. Mr. Eikrem's former experience also includes the position as CFO for the Canadian company Synenco Energy and he worked 15 years for Norsk Hydro where he held several positions in financial management in Norway and Singapore and he was also Head of Investor Relations. He holds a M.Sc. in economics and business administration from the Norwegian School of Economics and Business Administration in Bergen, Norway and is state-authorized public accountant.

Elly Bjerknes

Mrs. Elly Bjerknes serves as Executive Vice President Process Solutions at Kvaerner ASA. She joined Kvaerner in March 2013 as Senior Vice President. Mrs. Bjerknes has 34 years of experience within the oil and gas industry; and started her career in Norsk Hydro in 1983. Within Norsk Hydro she has held different management positions as vice president, including responsibility for the partner operated licenses, international investment projects portfolio and as project manager. After joining Kvaerner, she has held different positions with main focus on supporting the executive management team in monitoring the performance of the execution projects. Mrs. Bjerknes holds a M.Sc. in physical chemistry and chemical engineering from the Norwegian University of Science and Technology (NTNU).

Sturla Magnus

Mr. Sturla Magnus has been Executive Vice President Structural Solutions at KVAERNER ASA since March 6, 2017. He comes from the position as regional business stream director in Skanska Norway. From 2011 to 2014 Mr. Magnus was project director and branch manager for the Kashagan Hook-up project; responsible for Kvaerner activities and personnel in Kazakhstan. Mr. Magnus has 20 years of experience from construction projects and management in the international oil & gas-, and the construction industry in Skanska, Aker Solutions, Kvaerner, Aker Marine Contractors and AF Gruppen. He holds a M.Sc. in engineering from the Norwegian University of Life Sciences.

Hans Molmen

Mr. Hans Petter Molmen has been Executive Vice President Concrete and New Solutions at Kvaerner ASA since 2017. He previously served as Executive Vice President Concrete Solutions at the Company. He joined Kvaerner Engineering AS in 1991 and has during the years gained extensive experience within project controls and project management on both topsides and concrete GBS projects. Prior to that, he worked as an electrical engineer for AS Rasmussen & Strand in Oslo. Mr. Molmen has 25 years of experience from the oil & gas industry including key management positions in international concrete platform projects like Adriatic LNG terminal in Spain and Sakhalin-1 CGBS in Far East Russia. He also held other management positions in various parts of the Kvaerner and Aker group of companies. Mr. Molmen holds a B.Sc. from Narvik College of Engineering in Electrical science, extended with one year education in economy and management. He also holds a B.Sc. in Business Management from Arizona State University.

Steinar Rogenes

Mr. Steinar Rogenes has been Executive Vice President EPCI at Kvaerner ASA since 2015. He was Executive Vice President Topsides at the Company from 2014. Before that, he has been Executive Vice President, Contractors Norway at Kvaerner ASA since June 2013. Steinar Rogenes came from the position as Senior Vice President in Aker Solutions’ business area for maintenance, modifications and operations (MMO) where he has headed the regional office in Bergen. Mr. Rogenes has been with the Aker group for more than 20 years and held several management positions, including Vice President Finance for Kvaerner at Stord from 2005 to 2010 and business manager for the topside projects Kristin, Valhall and Snorre B from 2000 to 2005. Mr. Rogenes holds a B.Sc. from the Brigham Young University in Utah.

Ellen Andersen

Ms. Ellen Grete Andersen has served as Senior Vice President Staff at Kvaerner ASA since March 2017. She came from the position as SVP HSSE & QM and she was Senior Vice President HSSE at Kvaerner ASA from 2016 till 2017. Before that, she was deputy construction manager on the Hebron GBS project in Canada, a part of Kvaerner Concrete Solutions. Ms. Andersen has 35 years’ experience from various business areas within offshore oil and gas field development projects as well as the IT industry. She has held several management positions as construction-, business- and work process development manager among others. She has also held the position as at overall responsible for Aker Solutions’ project execution model (PEMTM) from 2009 to 2011. Ms. Andersen has an engineering degree from Gothenburg Technical Institute in Sweden in addition to several management courses at BI (Norwegian Business School) and Project Managers’ certification, IPMA grade B.

Henrik Inadomi

Dr. Henrik Inadomi has served as Senior Vice President Corporate Support at Kvaerner ASA since 2017. He has previously served as Senior Vice President Legal at the Company. Henrik Inadomi joined Kvaerner in 2012 after holding the position as General Counsel and Company Secretary in Qatar Aluminium Limited, a position he held since 2010. Previously Dr. Inadomi worked as Legal Counsel in Norsk Hydro ASA. Prior to this he worked as a Research Fellow at the Section for Petroleum and Energy Law at the University of Oslo, and his PhD thesis "Independent Power Projects in Developing Countries - Legal Investment Protection and Consequences for Development" was later published as a book. He graduated from the University of Oslo in 2001 and he also holds a LL.M. in international economic and business law from the Kyushu University, Japan. Dr. Inadomi has also published several academic articles, mainly on energy law.

Arnt Knudsen

Mr. Arnt Knudsen has served as Senior Vice President Business Development at Kvaerner ASA since 2015. He was Executive Vice President Concrete Solutions at the Company until 2015. Arnt Knudsen joined Norwegian Contractors in 1985, which later became part of the Aker Group of companies. Before that he worked in Canada for Swan Wooster. Mr. Knudsen has more than 30 years of experience from the oil & gas industry, including management positions in some of the largest and most complex concrete platform projects, such as Troll A and the Adriatic LNG terminal. He has also held other management positions in various parts of the Aker and Kvaerner group of companies as well as extensive international experience. Mr. Knudsen holds a M.Sc. from Imperial College in London in Concrete Structures and has also completed the Corporate Finance Program at London Business School.

Lone Fonss Schroder

Ms. Lone Fonss Schroder has been Member of the Board of Directors of Kvaerner ASA since April 19, 2016. Previously, she was Member of the Board of Directors at the Company from June 16, 2011 until April 10, 2013. She has held several senior management positions in A.P. Moeller-Maersk A/S, was CEO and president of Wallenius Lines AB, and has board experience from e.g Aker Solutions ASA, Akastor ASA, Volvo AB, Vattenfall AB, and Ikea group. She is chair of Saxo Bank, senior advisor for Credit Suisse and developer and co-owner of FinTech. She is chair of the audit committee in Akastor ASA, Volvo AB and Valmet OY. Ms. Fonss Schroder holds a LL.M. in Law from Koebenhavns Universitet (University of Copenhagen) and a Master of Economics from Copenhagen Business School.

Stale Johansen

Mr. Stale Knoff Johansen has served as Director, Employee Representative of Kvaerner ASA since June 2011. Mr. Johansen has been employed by Kvaerner since 1986 and has been a local union representative for Aker Verdal AS and Kvaerner Verdal AS on a full-time basis since 2010 and served on the boards of Aker Verdal AS and Kvaerner Verdal AS. He is a welder and sheet metal worker and holds a certificate of apprenticeship in the welding discipline.

Bernt Kilnes

Mr. Bernt Harald Kilnes has served as Director, Employee Representative of Kvaerner ASA since June 2011. Mr. Kilnes has been employed by Kvaerner since 1989 and is a group union representative for white-collar employees on a half-time basis and has served on the boards of Kvaerner ASA, Aker Kvaerner ASA and Aker Verdal AS. Mr. Kilnes holds degrees within telecommunication as well as economics and business administration.

Rune Rafdal

Mr. Rune Rafdal has been Director, Employee Representative of Kvaerner ASA since June 2011. Mr. Rafdal has been employed by Kvaerner since 1980 and has been a local union representative for Aker Stord AS and Kvaerner Stord AS on a full-time basis since 1996, a group union leader since 2005 and served several periods on the boards of Aker Stord AS and Aker Kvaerner Stord AS during the period between 2000 and 2011. He is a sheet metal worker and holds a certificate of apprenticeship in the sheet metal discipline.

Kjell Rokke

Mr. Kjell Inge Rokke has served as Member of the Board of Directors of Kvaerner ASA since June 16, 2011. He was Chairman of the Board until April 10, 2013. Kjell Inge Rokke is entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990's. He is chairman of Aker ASA, board member of Aker Solutions ASA, Aker PB ASA and Ocean Yield ASA.

Thorhild Widvey

Ms. Thorhild Widvey has been Member of the Board of Directors at Kvaerner ASA since April 19, 2016. She was Minister of culture from 2013 to 2015 and Minster of Petroleum and Energy from 2004 to 2005. Ms Widvey was state secretary in the Norwegian Ministry of Foreign Affairs from 2003 to 2005 and in the Norwegian Ministry of Fisheries from 2002 to 2003. Prior to this she was a Member of Parliament (Stortinget) from 1989 to 1997, representing Hoyre (the Conservative Party of Norway). Ms. Widvey has previous held a number of board positions both in privately and stock listed companies, including e.g. Hitec Vision AS (2006 to 2015); ENI Norway AS (2007 to 2015), Aker Drilling ASA (2006 to 2005), Oslo Havn KF (2012 to 2015) and Aker Philadelphia Shipyard AS (2011 to 2015) and Sjomannskirken (Norwegian Church Abroad) (2006 to 2015).

Ingrid Aarsnes

Basic Compensation

Name Fiscal Year Total

Leif-Arne Langoy

682,489

Jan Haugan

7,381,330

Tore Torvund

553,400

Idar Eikrem

3,326,760

Elly Bjerknes

2,832,440

Sturla Magnus

--

Hans Molmen

2,696,280

Steinar Rogenes

3,432,160

Ellen Andersen

2,435,870

Henrik Inadomi

3,363,550

Arnt Knudsen

3,363,000

Lone Fonss Schroder

343,432

Stale Johansen

164,000

Bernt Kilnes

164,000

Rune Rafdal

248,000

Kjell Rokke

328,000

Thorhild Widvey

310,208

Ingrid Aarsnes

--
As Of  30 Dec 2016