New CEO, new era: Eivind Kallevik charts path to a greener aluminium future for Hydro by 2030

Norwegian aluminium and energy giant Norsk Hydro recently announced Eivind Kallevik's appointment as its new President and CEO. Eivind officially commenced his role on May 13, unveiling his plan to expedite Hydro's strategy of spearheading the shift to sustainable aluminium production by leveraging renewable energy, aiming for significant progress by 2030.

Hydro has always been at the forefront of sustainability and promoting the importance of moving towards an eco-friendly environment. The Norwegian aluminium giant is also considered one of the leading providers of low-carbon and recycled aluminium solutions, pioneering its way towards an emission-free environment.

To know more about how the aluminium industry is moving towards a sustainable and greener environment, grab AL Circle's report, “Sustainability in the Aluminium Industry."This report aims to showcase the possibilities of sustainable development in the stages of primary production and also bring into light the industry initiatives that are undertaken or are in the works that would lower the carbon count collectively.

“To take the next big step towards pioneering the green aluminium transition, we are shifting gears to accelerate growth, value creation and sustainability," said President and CEO, Eivind Kallevik. Hydro's involvement spans the entire spectrum of aluminium production, covering every stage from bauxite extraction to the dispatch of aluminium products from Hydro's premises. The roadmap towards 2030 was unveiled during the company's Capital Markets Day in late 2023. The Hydro 2030 strategy encompasses expansion, fostering value, and promoting sustainability.

Hydro's roadmap towards accelerating growth

"It's about accelerating growth in recycling, extrusions and in energy solutions supporting our decarbonization roadmap. It's about accelerating our ability to create value for all stakeholders, our employees, society, customers and investors. It's also about accelerating our efforts within sustainability and executing on our decarbonization roadmap, while at the same time raising our game of contributing to nature positive, as well as securing a just transition," added Kallevik.

At the core of Hydro's operations lie its people. Kallevik underscores the necessity of ongoing initiatives to uphold Hydro's objective of zero work-related incidents, prioritising the safety and welfare of all employees within the company.

Maintaining robust control over Hydro's cost structure and perpetually advancing improvement initiatives will remain pivotal for the company's trajectory. Despite prevailing market challenges, Hydro's long-term perspective remains steadfast in anticipating a heightened demand for aluminium. Looking ahead to 2030, there's a foreseen acceleration in the demand for low-carbon aluminium, outpacing the general growth in demand.

Other new appointments in Hydro

"We have ambitious targets for continued improvements towards 2030, as well as commercial objectives. We will not be able to invest in growth, value creation and sustainability unless we continuously strengthen our cost-position and profitability," commented Kallevik.

Kallevik also announced new members of Hydro's Executive Leadership Team – 

• Hanne Karine Simensen, formerly leading Hydro Aluminium Metal's commercial operations, assumes the role of head of aluminium under Eivind Kallevik's leadership.
• Kari Ekelund Thørud, currently overseeing Ownership Governance in Hydro Energy, has been appointed as the new head of Hydro Energy. 
• This transition follows Arvid Moss's decision to step down after 16 years within Hydro's Executive Leadership Team. Effective July 1, 2024, Moss will transition to the role of Chairman of the Board of Hydro Rein while also serving as a special advisor to the CEO.
• Trond Olaf Christophersen, Executive Vice President for Corporate Development and interim Chief Financial Officer (CFO), will formally assume the role of CFO. Christophersen will continue to oversee the corporate development portfolio.

With these changes in the Executive Leadership Team, women now comprise 55 per cent of Hydro's top leadership. "People turn ambitions into results, and I look forward to working closely together with our 32,000 colleagues across the globe to accelerate growth, enhance value creation and to pioneer sustainability," added Kallevik.