Det norske CEO Steps Down on May 1st (Norway)

Sverre Skogen will as of May 1st take on the position as Executive Chairman in Det norske oljeselskap ASA until a new CEO has been appointed. Erik Haugane will step down as CEO on May 1st, not on 1st August, as previously announced. Haugane will act as advisor and be available for the company until August 1st.

On April 17th, Det norske’s annual general assembly elected a new Board of Directors and Sverre Skogen as Chairman of the Board. The Board of Directors has decided that Sverre Skogen will act as Executive Chairman, with the overall responsibility for Det norske’s operations. COO Øyvind Bratsberg will be assigned the position as General Manager with responsibility for running the day-to-day operations.

Chairman of the Board, Sverre Skogen, stresses that this is a temporary arrangement and that the process of recruiting a new CEO has a high priority.

“We have a thorough search ongoing to find the right person to take on the role as new CEO in Det norske and we see that it is not possible to conclude this process by August 1st. That is the reason why we have decided on this interim solution.”

Skogen acknowledge the work Erik Haugane has done as CEO in Det norske:

“Erik Haugane is the founder of the company. He has been a forceful and pronounced CEO for almost nine years. Haugane has developed Det norske from a small exploration company into a full cycle oil company, active in exploration, field development and production. During his tenor, the company has become a significant player on the Norwegian Continental Shelf and the shareholders have benefitted from major value creation,” Skogen said.

[mappress]

Press Release, April 24, 2013