Noreco CEO to step down

Norwegian Energy Company ASA (Noreco) CEO Tommy Sundt has stepped down from that role, effective Oct. 13. He will continue to fill the role as general manager for the Norwegian operations until the end of 2015.

Since joining Noreco in September 2014, Sundt has played a very important role during the financial and corporate restructuring of the company.

Silje Augustson will, in her capacity as executive director, take on the group CEO role and assume additional functions and responsibilities related to the daily operations of the group.

Further to these management changes, the board has had a dialogue with the nomination committee and agreed that the board roles will be proposed to be reshuffled at the next general meeting. Specifically, it will be proposed that RiuIf Rustad will formally take over the role as chair of the board from Augustson, who will continue as a board member alongside Julien Balkany.

Noreco ASA will be led from Nedre Vollgate 1 in Oslo, while Noreco Norway will maintain its Stavanger presence.

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