Eivind Kallevik succeeds Hilde Merete Aasheim as the new President and CEO of Hydro

Norsk Hydro ASA, a leading Norwegian aluminium and renewable energy company, announced that it appointed Eivind Kallevik as the new President and CEO, who would succeed Hilde Merete Aasheim. The appointment will be effect from May 13, 2024.

The news came after Dag Mejdell, chairperson of Hydro's Board of Directors, officially announced the appointment of Mr Eivind Kallevik, as Hilde Merete Aasheim has decided to step down after five years.

Dag Mejdell said,

"I am pleased to announce that Eivind Kallevik has accepted the job as President and CEO of Hydro. Throughout his more than 30 years of experience from Norwegian and international finance and industry, Eivind has a strong track record of developing the business, capturing opportunities, and maneuvering the industrial landscape and markets. I am confident Eivind has what it takes to lead Hydro towards 2030 and beyond."

Mr Kallevik is currently an Executive Vice President and Head of Hydro's Aluminium Metal business area. He has been serving in this position since 2019, before which he was the CFO from 2013-2019. Earlier, Kallevik also held several senior management positions in Hydro, both the bauxite and alumina and the downstream business areas.

Commenting on the new position, Kallevik said, "I am excited to take the next step for Hydro together with our 32,000 competent and engaged employees, with our strategic direction towards 2030 as a strong foundation. Our low-carbon efforts throughout our value chain are placing Hydro in a leading position in the green transition and providing a platform to accelerate our strategic partnerships. Strong control of our cost position and continuous improvement efforts will remain the backbone of Hydro's operations, combined with our unique capabilities to develop innovative technologies and commercial opportunities."

Hilde Merete Aasheim has worked for Hydro for 17 years and will leave the company at the end of June 2024.

Dag Mejdell added, "Hilde Merete Aasheim has led the company through a period where we have seen significant changes in the world around us. She has demonstrated a strong ability to manage short-term challenges, while positioning the company for long-term opportunities together with the rest of the organization. During her tenure, Hydro has strengthened profitability and significantly lifted the sustainability agenda."