Two new board members in Hydro

The Corporate Assembly in Norsk Hydro ASA on Friday approved two new members of the company’s Board of Directors, Liv Monica Bargem Stubholt and Eva Persson.

The two new board members replace Heidi M. Petersen and Grete Faremo. Faremo resigned from the board in October 2009, after she was appointed Norway’s Minister of Defense.

After Friday’s election, the Board of Directors in Norsk Hydro ASA consists of Chairperson Terje Vareberg, Deputy Chairperson Bente Rathe, shareholder-elected board members Finn Jebsen, Inge K. Hansen, Liv Monica Bargem Stubholt and Eva Persson, and the employee-elected board members Billy Fredagsvik, Jørn B. Lilleby and Sten Roar Martinsen.

Hydro’s board members are elected for a period of two years. In practice the employee-elected members and the shareholder-elected members are up for re-election every other year. This year, the shareholder-elected representatives were up for election.

Liv Monica Bargem Stubholt (born 1961) is from Oslo and is acting chief executive of Aker Seafoods ASA and responsible in Aker ASA for Aker Clean Carbon ASA.

Eva Persson (born 1953) is from Gothenburg, Sweden, and is general counsel in the Volvo Group and member of the Volvo Group Executive Committee.

Source: Hydro