22 JULY 2014Hydro Press Release
Brandtzæg to leave Hydro to become Yara CEO.
Edited by : AL CIRCLE
2 min read
Svein Richard Brandtzæg, President and CEO in Norwegian aluminium company Norsk Hydro ASA, has informed the Board of Directors that he will leave Hydro to take over as President and CEO for Norwegian fertilizers group Yara International ASA from February 1, 2015, at the latest.
The process to find a replacement for Brandtzæg has started, and a new President and CEO for Hydro will be announced in due time. Brandtzæg will continue as President and CEO of Hydro until further notice.
The Board of Directors regrets Brandtzæg's decision to leave the company. Brandtzæg has been a great capacity for Hydro throughout his almost 30 years in the company and especially as CEO since 2009. Together with a solid and highly competent top management in Hydro, he has led the company through tough times and weak markets, taking forceful actions to ensure that we are positioned for a bright future as a leading, global aluminium company, says Hydro's Chair of the Board of Directors Dag Mejdell.
His determination and commitment to improving Hydro's market and cost position, especially the ambitious USD 300 program, has brought us to the forefront of the industry when it comes to operational performance. The focus on operational performance, which has become a trademark for Hydro, will continue with full force under a new leadership, Mejdell says.
Brandtzæg joined Hydro in 1985 and has held various positions, including EVP and Head of Aluminium Products, Head of Rolled Products, Head of Metal Products and Head of Magnesium. He took over as CEO in March 2009.
"It was a tough decision, but I felt that it was the right time for me to move on to new challenges", says Hydro's President and CEO, Svein Richard Brandtzæg.
"I feel privileged to have worked for Hydro for so many exciting years. I want to thank all my skillful colleagues across the value chain, who has enabled Hydro to become a truly global leader in the aluminium industry. My commitment remains on delivering on Hydro's ambitions and targets until a new President and CEO is in place," Brandtzæg says.
The process to find a replacement for Brandtzæg has started, and a new President and CEO for Hydro will be announced in due time. Brandtzæg will continue as President and CEO of Hydro until further notice.
The Board of Directors regrets Brandtzæg's decision to leave the company. Brandtzæg has been a great capacity for Hydro throughout his almost 30 years in the company and especially as CEO since 2009. Together with a solid and highly competent top management in Hydro, he has led the company through tough times and weak markets, taking forceful actions to ensure that we are positioned for a bright future as a leading, global aluminium company, says Hydro's Chair of the Board of Directors Dag Mejdell.
His determination and commitment to improving Hydro's market and cost position, especially the ambitious USD 300 program, has brought us to the forefront of the industry when it comes to operational performance. The focus on operational performance, which has become a trademark for Hydro, will continue with full force under a new leadership, Mejdell says.
Brandtzæg joined Hydro in 1985 and has held various positions, including EVP and Head of Aluminium Products, Head of Rolled Products, Head of Metal Products and Head of Magnesium. He took over as CEO in March 2009.
"It was a tough decision, but I felt that it was the right time for me to move on to new challenges", says Hydro's President and CEO, Svein Richard Brandtzæg.
"I feel privileged to have worked for Hydro for so many exciting years. I want to thank all my skillful colleagues across the value chain, who has enabled Hydro to become a truly global leader in the aluminium industry. My commitment remains on delivering on Hydro's ambitions and targets until a new President and CEO is in place," Brandtzæg says.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
“Slow growth in Mining Sector retarding industrial growth in India,” Anshuman Das, CMD, Nalco
Next articleNalco exploring coal block in 'friendly' African nations
Grow with
AL Circle
