Røkke appointed new CEO of Akastor ASA

Akastor ASA, an oilfield services investment company, has appointed Kristian Røkke as its CEO. He will succeed Frank O. Reite, who will take the position of CFO at Aker ASA. Røkke, who is currently chairman of Aker Philadelphia Shipyard ASA (AKPS), a US commercial shipyard, will assume his new role at Akastor ASA on Aug. 10.

Aker ASA will propose to the nomination committee of Akastor ASA that Reite takes the role as chairman of the board of Akastor ASA later this year. Further, Aker will propose that Øyvind Eriksen continues as a member of Akastor’s board and that Kjell Inge Røkke steps down from Akastor’s board.

Røkke has experience in offshore service and shipbuilding from several companies in the Aker group. He has spent the past eight years at Aker Philadelphia Shipyard, most recently as chairman of the board and previously as president and CEO. Before then, he served as senior vice president of operations and has held other production management positions at AKPS.

Røkke will continue as chairman of Aker Philadelphia Shipyard ASA and as a board member of TRG Holding AS, American Shipping Co. ASA, and Philly Tankers AS. He holds a Master of Business Administration degree from The Wharton School, University of Pennsylvania.

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