The Wall Street Journal-20080131-StatoilHydro ASA- Svein Rennemo Named New Board Chairman

Return to: The_Wall_Street_Journal-20080131

StatoilHydro ASA: Svein Rennemo Named New Board Chairman

Full Text (84  words)

Veteran oil-industry executive Svein Rennemo was elected board chairman of state-controlled StatoilHydro ASA, the Norway company said. The vote was a formality, as the 60-year-old Mr. Rennemo's nomination on Jan. 16 was endorsed by the Norwegian government, which holds a 62.5% share of the company. Mr. Rennemo succeeds Eivind Reiten, chief executive of the Norsk Hydro ASA aluminum and power- generation group. Mr. Reiten resigned four days after StatoilHydro was formed on Oct. 1 through Statoil ASA's takeover of Norsk Hydro's oil- and-gas division.