Equinor Names New CEO
Norwegian state producer Equinor will have its first CEO with an engineering background from November 2, when Anders Opedal succeeds Eldar Saetre, it said August 10.
"The board’s mandate is for Anders to accelerate our development as a broad energy company and to increase value creation for our shareholders through the energy transition," said the chairman of the board, Jon Erik Reinhardsen.
Saetre, six years at the helm, turns 65 next year but will remain on hand for advice until retirement in March.
Opedal, now the executive vice president of technology, projects and drilling, has an upstream background and in 2011 he was chosen to lead Equinor’s Nkr 300 ($33)bn project portfolio. He has also managed the company's Brazil operations.
Describing him as "passionate about technology, digitalisation and industrial development," Reinhardsen said he would be "the right person to further develop Equinor as a force in the green shift."
Opedal said he was "honoured and proud to take over the responsibility as CEO," and the company had a "great starting point for what will be a massive transition with our strong assets.... Together, we will accelerate the development of Equinor as a broad energy company and our growth within renewables.
"I really look forward to take on the role as CEO. I will use the time until I take over to prepare and plan for this great company’s future. And I will take the opportunity to engage and listen, both to the organisation and external stakeholders to get their valuable perspectives before setting the direction for my leadership for a new time."
Saetre, who joined the company aged 24, said he was leaving its future development to the right person to lead the company during the next phase of the energy transition. Geir Tungesvik has taken over Opedal's role with immediate effect, while Opedal becomes executive vice president.