Integrated oil and gas company StatoilHydro has announced that Eivind Reiten is stepping down as chair in the company, following the revelation that Norsk Hydro may have used a consultancy company in relation to Libyan petroleum operations more than was previously thought. The deputy chair Marit Arnstad will take over as acting chair, with immediate effect.
Ms Arnstad will remain acting chair until the corporate assembly can elect a new board director and a new chair.
In a stock market announcement from Norsk Hydro, it is stated: The investigations so far indicate that Hydro may have had more extensive contact, and made more active use of the consultancy firm in question, than has previously emerged.
Out of consideration for StatoilHydro, Mr Reiten has decided to step down as chair of the board, after thorough assessment. The review of matters relating to Hydro’s oil and energy activities in Libya initiated by StatoilHydro’s CEO Helge Lund, will be implemented as planned.