Norsk Hydro: New Hydro CEO accelerating growth, value creation and sustainability to change the game for aluminium
13 Mai 2024 - 7:01AM
Eivind Kallevik assumed his position as Hydro’s new
President and CEO on May 13, launching his agenda for accelerating
Hydro’s strategy of pioneering the green aluminium transition,
powered by renewable energy towards 2030.
“Hydro is the leading provider of low-carbon and recycled
aluminium solutions. To take the next big step towards pioneering
the green aluminium transition we are shifting gears to accelerate
growth, value creation and sustainability,” says President and CEO,
Eivind Kallevik.
Hydro is present throughout the full value chain of aluminium
production and able to pull levers in every step, from when bauxite
is mined until shipments of aluminium solutions leave Hydro’s
facilities.
The strategic direction towards 2030 was launched at the
company’s Capital Markets Day in late 2023. The Hydro 2030 strategy
is in essence about growth, value creation and sustainability.
“It’s about accelerating growth in recycling, extrusions and in
the energy solutions supporting our decarbonization roadmap. It’s
about accelerating our ability to create value for all
stakeholders, our employees, society, customers and investors. And
it’s about accelerating our efforts within sustainability.
Executing on our decarbonization roadmap while at the same time
upping our game contributing to nature positive, as well as
securing a just transition,” says Kallevik.
People are at the heart of Hydro’s operations, and Kallevik
stresses the importance of continued efforts to support Hydro’s
target of zero work related incidents – ensuring the safety and
wellbeing of the company’s employees.
“People turn ambitions into results and I look forward to
working closely together with our 32,000 colleagues across the
globe to accelerate growth, enhance value creation and to pioneer
sustainability,” says Kallevik.
Strong control of Hydro’s cost position and continuous
improvement efforts will remain fundamental for the company going
forward. Current weaker market conditions do not change Hydro’s
long-term outlook for an overall increased aluminium demand.
Towards 2030 demand for low-carbon aluminium is expected to
increase faster than overall demand growth.
“We have ambitious targets for continued improvements towards
2030, as well as commercial objectives. We will not be able to
invest in growth, value creation and sustainability unless we
continuously strengthen our cost-position and profitability,” says
Kallevik.
Kallevik also announced new members of Hydro’s Executive
Leadership Team:
- Hanne Karine Simensen, former head of Hydro
Aluminium Metal’s Commercial operations, is the new head of
Aluminium Metal following Eivind Kallevik.
- Kari Ekelund Thørud, who is currently head of
Ownership Governance in Hydro Energy, has been appointed as new
head of Hydro Energy, as Arvid Moss has decided to step out of the
role after 16 years in Hydro’s Executive Leadership Team. The
change will be effective July 1, 2024. Moss will continue in the
capacity as Chairman of the Board of Hydro Rein and have a position
as special advisor to the CEO.
- Trond Olaf Christophersen, Executive Vice
President for Corporate Development and interim Chief Financial
Officer (CFO), will take on the role as CFO. The Corporate
Development portfolio will continue to report to Trond Olaf
Christophersen.
With the new Executive Leadership Team the share of women in
Hydro’s top leadership is now 55 percent.
Investor contact:Martine Rambøl Hagen+47
91708918Martine.Rambol.Hagen@hydro.com
Media contact:Halvor Molland+47
92979797Halvor.Molland@hydro.com
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