Norsk Hydro: New deputy chair of the board and two new board members in Hydro

The Corporate Assembly in Norsk Hydro ASA on Thursday approved Irene Rummelhoff as new deputy chair of the Board of Directors and two new members of the company's Board of Directors, Thomas Schulz and Marianne Wiinholt.

May 26, 2016

Inge K. Hansen is resigning from the Board of Directors and will be replaced by Irene Rummelhoff as new deputy chair of the Board effective May 26, 2016. Eva Persson is also resigning from the Board of Directors. Thomas Schulz and Marianne Wiinholt, will replace Inge K. Hansen and Eva Persson as shareholder-elected board members as of May 26, 2016.

After Thursday's election, the Board of Directors in Hydro consists of chair Dag Mejdell, deputy chair Irene Rummelhoff, shareholder-elected board members Finn Jebsen, Liv Monica Bargem Stubholt, Pedro Rodrigues, Thomas Schulz and Marianne Wiinholt, and the employee-elected board members Billy Fredagsvik, Sten Roar Martinsen and Ove Ellefsen.

Hydro's board members are elected for a period of up to two years. This year, the shareholder-elected representatives were up for election. The shareholder elected members of the board were elected for a period of up to two years.

Irene Rummelhoff (born 1967) is from Norway and is Executive Vice President New Energy Solutions  in Statoil.

Thomas Schulz (born 1965) is from Germany and is Group Chief Executive Officer in FLSmidth. 

Marianne Wiinholt (born 1965) is from Norway and is Executive Vice President and Chief Financial Officer in Dong Energy.

For more information on the Board of Directors in Norsk Hydro ASA, visit Hydro's web site:

http://www.hydro.com/en/About-Hydro/Organization/Management-and-board/Board/

Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

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


Updated: October 11, 2016