Norsk Hydro ASA (NHYDY: OTC Link) | Two new board members in Hydro

Two new board members in Hydro

May 25, 2012

OTC Disclosure News Service

Oslo, Norway –

The Corporate Assembly in Norsk Hydro ASA on Friday approved two new members of the company’s Board of Directors, Dag Mejdell and Victoire de Margerie.

 

Dag Mejdell is elected as a new board member effective from May 25, 2012, and the Board of Directors is expanded by one member. Bente Rathe resigns from the Board of Directors and will be replaced by Victoire de Margerie, effective from October 1, 2012. Inge K. Hansen will take over as deputy chairperson after Bente Rathe from October 1, 2012. 

 

After Friday’s election, the Board of Directors in Norsk Hydro ASA consists of

chairperson Terje Vareberg, deputy chairperson Bente Rathe (until October 1, 2012), shareholder-elected board members Inge K. Hansen (deputy chairperson as of October 1, 2012), Finn Jebsen, Liv Monica Bargem Stubholt, Tito Martins, Eva Persson and Dag Mejdell, and the employee-elected board members Billy Fredagsvik, Sten Roar Martinsen and Ove Ellefsen. Victoire de Margerie will join the Board of Directors as a shareholder-elected board member as of October 1, 2012.

 

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

 

Dag Mejdell (born 1957) is from Oslo and is President and CEO of Posten Norge AS. He is currently chairperson of International Post Corporation and the Employers Association Spekter and deputy chairman of Evry ASA and SAS AB. Mejdell also holds directorships within the Posten group.

 

Victoire de Margerie (born 1963) is from Paris and is an independent businesswoman, and Chairman Managing Director of Rondol Technology Ltd. She is currently board member for Ciments Français, Morgan Crucible and Eurazeo.

 

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/

 

Investor contact:

Stian Hasle

Mobile: +47 97736022

E-mail: stian.hasle@hydro.com

 

                                                        ********

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 acc. to §5-12 vphl

(Norwegian Securities Trading Act)

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NHYDY/news?id=48060

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