Hydro's new CEO takes action immediately

Hydro's new CEO takes action immediately

Norsk Hydro's new CEO, Eivind Kallevik, is making changes to the company's management when he now takes up his new position, according to a stock exchange announcement.

Han-Karin Simensen, who until now was Head of Commercial at Hydro Aluminum Metal, takes over the position of CEO of Hydro Aluminum Metal from Kalevik himself.

Executive Vice President Corporate Development and Acting Executive Vice President Economics and Finance, Trond Olav Christophersen, will become CFO on a permanent basis.

Kari Ekelund Thorud, Head of Property Management at Hydro Energy, will replace Arvid Moss as CEO of Hydro Energy effective July 1. Moss steps down after 16 years at the helm of Hydro Group, but will continue as Chairman of Hydro Rein.

He sees increased demand

Norsk Hydro's strategic direction towards 2030 was launched at the company's capital market day at the end of 2023, and is fundamentally about growth, value creation and sustainability.

In addition, strong control over Hydro's cost position and continuous improvement procedures will remain key to the company. It is noted in the report that today's weaker market conditions do not change the fact that Hydro sees an increase in demand for aluminum in the long term, and by 2030 demand for low-carbon aluminum is expected to increase faster than the overall growth in demand.

We have ambitious goals for continuous improvement until 2030, in addition to commercial goals. We will not be able to increase investment, create value and achieve sustainability unless we constantly strengthen our cost position and profitability, says the new Hydro boss in a commentary.

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Dalila Awolowo

Dalila Awolowo

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