Norsk Hydro: Changes in Hydro’s Executive Leadership Team

    Norsk Hydro: Changes in Hydro’s Executive Leadership Team 

Hydro’s new President and CEO, Eivind Kallevik, introduced changes to the company’s Executive Leadership Team when he assumed his new position on May 13, 2024.

Hanne Karine Simensen, former Head of Commercial in Hydro Aluminium Metal, will take over as Executive Vice President (EVP) of Hydro Aluminium Metal, following Eivind Kallevik. Kari Ekelund Thørud, Head of Ownership Governance in Hydro Energy, is replacing Arvid Moss as Executive Vice President of Hydro Energy, as Moss has decided to step out of the role effective from July 1, 2024 after 16 years in Hydro’s Executive Leadership Team. Moss will continue in the capacity as Chairman of the Board of Hydro Rein.

Trond Olaf Christophersen, Executive Vice President for Corporate Development and interim Chief Financial Officer (CFO), will take on the role as CFO. The Corporate Development portfolio will continue to report to Trond Olaf Christophersen.

As part of the changes introduced, Hydro has revised the name of Corporate Management Board to Executive Leadership Team.

Hydro’s Executive Leadership Team will be as follows:

• President and CEO: Eivind Kallevik
• EVP and CFO: Trond Olaf Christophersen
• EVP Hydro Bauxite & Alumina: John Thuestad
• EVP Hydro Energy: Kari Ekelund Thørud*
• EVP Hydro Aluminium Metal: Hanne Karine Simensen
• EVP Hydro Extrusions: Paul Warton
• EVP People and HSE: Hilde Vestheim Nordh
• EVP Communication and Public Affairs: Therese Rød Holm
• EVP Compliance, IP and General Counsel: Anne-Lene Midseim

*Effective from July 1, 2024

With the new Executive Leadership Team, the share of women in Hydro’s top leadership is now 55 percent.

Hanne Karine Simensen to take on the position as new EVP Hydro Aluminium Metal, succeeding Eivind Kallevik

Hanne Karine Simensen is appointed EVP in Hydro Aluminium Metal, following Eivind Kallevik. Simensen comes from the position as Head of Hydro Aluminium Metal Commercial. She has long experience from Hydro starting in 1994, including Director and Head of Hydro’s Global Business Services and EVP for People & HSE, as well as several senior positions in Hydro within the energy business.

Kari Ekelund Thørud to take on the position as new EVP Energy, succeeding Arvid Moss

Kari Ekelund Thørud is appointed EVP in Hydro Energy, effective from July 1. Thørud follows Arvid Moss, who has decided to step out of the role. Thørud is currently Head of Ownership Governance in Hydro Energy. She has extensive experience from the energy industry, including CEO of Nord Pool, and Deputy CEO and Senior Vice President in Hafslund Markets.

Trond Olaf Christophersen to take on the position as CFO

Trond Olaf Christophersen has been appointed CFO and EVP, succeeding Pål Kildemo. Christophersen was appointed acting CFO on March 6, 2024. Christophersen comes from the role as EVP Corporate Development. He has extensive experience from various roles in Hydro since he joined the company in 1997. This includes Senior Vice President and Head of Recycling in Aluminium Metal, key commercial leadership positions in Hydro Energy and Hydro Aluminium Metal, plant manager for Hydro’s Karmøy smelter as well as several commercial, business development, and project roles in Hydro’s previous oil and gas activities.

Investor contact:Martine Rambøl Hagen+47 [e-mail]

Media contact:Halvor Molland+47 [e-mail]

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