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Statoil ASA: Recommendation from Statoil's nomination committee

STAVANGER, Norway, March 11, 2015 (GLOBE NEWSWIRE) -- The nomination committee in Statoil (OSE:STL, NYSE:STO) recommends that the company's corporate assembly elects Rebekka Glasser Herlofsen as a new member of Statoil's board of directors.

The nomination committee in Statoil recommends that Rebekka Glasser Herlofsen is elected as new member of the board. Grace Reksten Skaugen has at an early point in time informed the nomination committee that she does not wish to stand for re-election in 2015. Reksten Skaugen has been a board member in Statoil since 2002, and has in the recent years been deputy chair of the board and chair of the board's compensation and executive development committee.

Since 2012, Rebekka Herlofsen has been the Chief Financial Officer in the Norwegian shipping company Torvald Klaveness. She has broad financial and strategic experience from several corporations and board directorships. Herlofsen's professional career began in the leading Nordic Investment Bank, Enskilda Securities, where she worked with corporate finance and equity analysis from 1995 to 1999. During the next ten years Herlofsen worked in the Norwegian shipping company Bergesen d.y. ASA (later BW Group). During her period with Bergesen d.y. ASA/BW Group she held leading positions within M&A, strategy and corporate planning.

Having been a previous board member in Noreco, she was appointed as the company's Chief Financial Officer in 2011, before commencing her current role as Chief Financial Officer in Torvald Klaveness in 2012. Herlofsen is currently a member of the board of DNV GL and, until recently, the chairman of the board of Cermaq. As such, she has broad experience within corporate governance.

Rebekka Glasser Herlofsen is a Norwegian citizen.

The election to Statoil's board of directors takes place in the company's corporate assembly meeting, Wednesday 18 March 2015. It is proposed that the election enters into effect from 19 March 2015, until the ordinary election of shareholder-representatives to the board of directors in 2016.

Contacts:

  • Olaug Svarva, chair of the nomination committee
  • All enquiries to be directed through Statoil Corporate Press Office, Jannik Lindbæk, +47 977 55 622.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HUG#1902191

Source:Statoil