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Equinor’s new CEO, Anders Opedal, took office on November 1 and now, just over a week later, changes are being made to both the group structure and the management team.
– Equinor is developing as a broad energy company. We are now making changes to strengthen the implementation of our safe operation, high value creation and low carbon strategy. The changes will contribute to further value creation from our world-class oil and gas projects, profitable growth in renewable energy and the development of low-carbon solutions, Opedal says in a statement.
Reitan out of group management
Torgrim Reitan is one of those who is now leaving the leadership of the group. Until now, he has served as Executive Vice President of International Production and Development and this spring and summer was tasked with the difficult task of publicly defending Equinor’s operations in the US following DN’s disclosures about a series of critical internal reports on the Equinor investment in the US The company has lost more than NOK 200 billion in investments.
As of January 1, 2011, Reitan was CFO of the company and in that role he was continuously informed about the red audit reports produced by internal audit related to the United States operations.
Equinor announced in October 2011 that a bid had been submitted for Brigham Exploration, which had a strong position in the Bakken and Three Forks oil deposits.
In 2015, Reitan took over the leadership of the American business after Bill Maloney.
Reitan was sent to clean up America, among other things, to cut costs and improve internal control. At times there was a big disagreement between internal audit in the US and Torgrim Reitan, DN has previously written.
– There was occasional tension between the internal audit and the business area. There could be high temperatures, even a little too high, in the discussions. But we fully agreed with the description of the situation and that the weaknesses should be disclosed, Reitan previously told DN.
Becomes director of renewables
As of January 1, Reitan will assume the position of director of finance and control in the Renewables business area.
Chief Information Officer Bård Glad Pedersen at Equinor says renewable energy is a fast-growing area for the company.
– Torgrim Reitan has been central to Equinor’s investment in the US Does the departure of the group’s management have any connection to this?
– No, he does not do it. He was head of the United States in the aftermath of the challenges and was central in working to improve profitability and clean up internal control challenges that had been identified. The PwC report shows that the work has paid off. He has chosen to resign after spending a decade at the head of the group, says Glad Pedersen.
– Will you maintain the same salary conditions as today?
– We declare all the conditions for the entire group management in our annual report. For other employees, we don’t do that, he says.
Six business areas
The new group structure at Equinor will consist of six business areas and five new units at the center of the group.
Exploration and Production Norway (EPN) and Exploration and Production International (EPI) are established as two new business areas.
Renewable (REN) continues as a separate business area.
Equinor establishes Technology, Digitization and Innovation (TDI) as a separate business area. Projects, Drilling and Procurement (PDP) will be a more focused business area.
Marketing, Midstream and Processing (MMP) remain unchanged as a business area.
The new group management looks like this
- CEO, Anders Opedal.
- Executive Vice President of Finance, Svein Skeie (Acting).
- Executive Vice President Exploration and Production Norway, Kjetil Hove.
- Executive Vice President of International Exploration and Production, Al Book.
- Irene Rimmelhoff, Executive Vice President of Marketing, Midstream and Processing.
- Executive Vice President Renewable Energy, Pål Eitrheim.
- Executive Vice President of Projects, Drilling and Procurement, Arne Sigve Nylund.
- Executive Vice President of Technology, Digitization and Innovation, Carri Lockhart.
- Executive Vice President of Safety, Security and Sustainability, Jannicke Nilsson.
- Executive Vice President of Legal Affairs and Compliance, Siv Helen Rygh Torstensen.
- Executive Vice President of People and Organization, Ana Fonseca Nordang.
Additionally, Jannik Lindbæk will be the communications director. Reports to the CEO and becomes part of the management. Lindbæk joins on January 1.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content can only be done with written permission or as permitted by law. For more terms, see here.
