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Norsk Hydro: Egil Hogna appointed new CEO at Sapa

OSLO, Norway, Aug. 25, 2015 (GLOBE NEWSWIRE) -- The Board of Directors of Sapa AS has appointed Egil Hogna (44) as the company's new President & Chief Executive Officer. He will replace Svein Tore Holsether on September 1, 2015.

"I am very excited about the opportunity to lead Sapa. As the leading player in its industry, with 23,500 employees in over 40 countries, Sapa is well positioned to deliver innovative aluminium solutions meeting customer's demands all over the world - today and tomorrow," says Egil Hogna.

For the last six years, Egil Hogna has led the downstream operations at Yara International. He has previously served in a variety of management positions in Yara and Hydro, including CFO and head of Investor Relations. Hogna has a Master of Science degree from the Norwegian university of science and technology, NTNU, in Trondheim and an MBA from INSEAD.

"Both owners are very pleased that Egil Hogna will lead Sapa into the next phase. With the integration in place and synergy realization well ahead of plan, Hogna will, with his broad international industrial experience, continue Sapa's development as the most innovative and customer oriented aluminium solutions company in the world," says Svein Richard Brandtzæg, chairman of the board.

Sapa announced March 30, 2015 that Svein Tore Holsether is leaving Sapa to take over as President and CEO for Norwegian fertilizers group Yara International ASA. His last working day at Sapa will be September 8.

"The board would like to thank Svein Tore Holsether for being a great capacity for Sapa during the forming of the joint venture. Together with a solid and highly competent top management in Sapa, he has led the company through a crucial initial phase, taking forceful actions to ensure that Sapa is well positioned for a bright future", concludes Brandtzæg.

Sapa AS is a 50/50 joint venture owned equally by Orkla ASA and Norsk Hydro ASA. Sapa is the world leader in aluminium solutions, shaping a lighter future through a global reach and local presence within extrusions, building systems, and precision tubing. The company has 23,500 employees in more than 40 countries, and is headquartered in Oslo, Norway.

Investor contact
Contact Pål Kildemo
Cellular +47 97096711
E-mail Pal.Kildemo@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

HUG#1947272

Source:Norsk Hydro