Agerup recommended as new Statoil board member

Statoil’s nomination committee has recommended that the company's corporate assembly elect Wenche Agerup as a new member of Statoil's board of directors.

Catherine Hughes withdrew from the Statoil board, effective April 19. The nomination committee’s search for a new female board member as a replacement for Hughes is now finalized, and the nomination committee proposes that a supplementary election to the board is held in the corporate assembly meeting on Aug. 20.

Agerup was the executive vice president for corporate staffs and the general counsel of Norsk Hydro ASA from 2010 through 2014. She has held various executive roles in Hydro since 1997, including within the company’s merger and acquisition (M&A) activities, the business area Alumina, Bauxite and Energy; as a plant manager at Hydro’s metal plant in Årdal; and as a project director for a joint venture in Australia, where Hydro cooperated with the Australian-listed company UMC.

Agerup is currently a board member in Oslo Børs Holding VPS ASA/Oslo Børs ASA (the Oslo Stock Exchange) and the seismic company TGS, and has experience within corporate governance. Her election to Statoil's board of directors will take place at the company's corporate assembly meeting on Aug. 20. It has been proposed that the election will be effective from Aug. 21 until the ordinary election of shareholder-representatives to the board of directors in 2016.

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