Hydro’s new CEO Hilde Merete Aasheim aiming to lift profitability and drive sustainability

Hilde Merete Aasheim has reportedly assumed the position as Hydro’s new President and CEO with an intention to boost profitability and speed up the company’s drive to become a leading provider of advanced, low-carbon products and solutions, based on a more sustainable footprint through the value chain and lifecycle of aluminium.

“Customers are increasingly seeking advanced solutions with the lowest-possible impact, from building and construction to automotive, packaging and electronics. This enables us to commercialize our best-in-class footprint and leading positions within process technology and product innovation,” said Aasheim in a statement.

As per the report, Aasheim has also started taking several measures in support of her business agenda, which include renewing company’s corporate management board, restructuring and reviewing rolled products business area, ensuring stricter capital discipline and capital allocation, revitalising on-going improvement programmes and identifying new improvement ambitions in all business areas and staffs.

Her special attention is on exploring all possible options to improve earnings from rolled products for the future, alongside focusing on increasing operational excellence and ensuring stricter financial discipline.

Aasheim said, “While we remain optimistic about the long-term prospects for aluminium and Hydro as the world moves towards the low-carbon, circular economy, we must acknowledge the challenges that must be addressed to strengthen our performance and cash generation.”

In addition, she also mentioned of Alunorte that it must return to full production as early as possible to allow for normal operations in Brazil.