Øyvind Eriksen new CEO of Aker ASA (19.12.2008)
Øyvind Eriksen has been appointed President & Chief Executive Officer of Aker ASA. He replaces chief executive Leif-Arne Langøy, who in November announced to the board of directors that he wished to step down by the end of the year.
“Øyvind Eriksen has been one of mine and Aker’s most important advisers for several years. He knows the company, our markets and key colleagues very well, and he has been a key player in the large projects we have executed. The right conditions are in place for an effective and smooth transition to a new chief executive,” says Kjell Inge Røkke, who earlier today was elected chairman of Aker ASA.
“I am very pleased that we already have a new CEO in place. At the same time I would like to, on behalf of the Aker board, the company’s shareholders and my family, thank Leif-Arne Langøy. His long-standing efforts in Aker have been invaluable. I am delighted that he will continue to work with us,” says Mr Røkke.
Mr Eriksen holds a law degree from the University of Oslo. He has worked for BA-HR, a Norwegian law firm, since 1990 and as a partner from 1996. Mr Eriksen is currently a board member of several companies. He will resign his positions as board member in all professional boards unrelated to Aker, with the exception his role as board member of Reitangruppen AS, allowing him to focus fully on his new roles in Aker when he assumes his position on January 1, 2009.
“Thanks to the first class colleagues and a unique working environment, I have had 20 fantastic years as a lawyer and in recent years also as an executive and chairman of BA-HR. As a client, Aker has been one of the cornerstones in the firm’s and my own development. Aker is therefore a company that already has a place in my heart. I look forward to working with Kjell Inge Røkke and with the skilled and competent colleagues in Aker,” says Øyvind Eriksen.
“This day marks the start of a new era for me. These times are challenging, but Aker is well-equipped to face them, with its extraordinary human and financial resources. This gives us a good starting point not just to maintain Aker but also to work to strengthen the Aker companies during the downturn. With this in mind, I am happy to get the chance to invest my own money on Aker’s future success,” says Mr Eriksen.
“It is important to my wife Anne Grete and to me that Øyvind Eriksen becomes a co-owner in our company TRG Holding AS,” says Kjell Inge Røkke. Eriksen is paying NOK 12.6 million for 50,000 B-shares (0.1 per cent) in the company, which is Aker’s main shareholder, and has an option to acquire another 50,000 B-shares later.
The new chief executive will receive an annual salary of NOK 12 million and a one-off payment of NOK 12 million when he assumes his position. He will not receive a bonus for 2009, but will for the year 2010 and then after be eligible for bonus payments worth up to two-thirds of his annual salary.
The CEO joins Aker’s collective pensions system, which entitles him to an annual salary of up to 70 per cent of 12G (G= base measure in National Insurance Scheme). He has a notice period of six months and is not entitled to receive payments after leaving his position.
For further information, please contact:
Geir Arne Drangeid, EVP, Aker ASA. Tel.: +47 24 13 00 65
“I am very pleased that we already have a new CEO in place. At the same time I would like to, on behalf of the Aker board, the company’s shareholders and my family, thank Leif-Arne Langøy. His long-standing efforts in Aker have been invaluable. I am delighted that he will continue to work with us,” says Mr Røkke.
Mr Eriksen holds a law degree from the University of Oslo. He has worked for BA-HR, a Norwegian law firm, since 1990 and as a partner from 1996. Mr Eriksen is currently a board member of several companies. He will resign his positions as board member in all professional boards unrelated to Aker, with the exception his role as board member of Reitangruppen AS, allowing him to focus fully on his new roles in Aker when he assumes his position on January 1, 2009.
“Thanks to the first class colleagues and a unique working environment, I have had 20 fantastic years as a lawyer and in recent years also as an executive and chairman of BA-HR. As a client, Aker has been one of the cornerstones in the firm’s and my own development. Aker is therefore a company that already has a place in my heart. I look forward to working with Kjell Inge Røkke and with the skilled and competent colleagues in Aker,” says Øyvind Eriksen.
“This day marks the start of a new era for me. These times are challenging, but Aker is well-equipped to face them, with its extraordinary human and financial resources. This gives us a good starting point not just to maintain Aker but also to work to strengthen the Aker companies during the downturn. With this in mind, I am happy to get the chance to invest my own money on Aker’s future success,” says Mr Eriksen.
“It is important to my wife Anne Grete and to me that Øyvind Eriksen becomes a co-owner in our company TRG Holding AS,” says Kjell Inge Røkke. Eriksen is paying NOK 12.6 million for 50,000 B-shares (0.1 per cent) in the company, which is Aker’s main shareholder, and has an option to acquire another 50,000 B-shares later.
The new chief executive will receive an annual salary of NOK 12 million and a one-off payment of NOK 12 million when he assumes his position. He will not receive a bonus for 2009, but will for the year 2010 and then after be eligible for bonus payments worth up to two-thirds of his annual salary.
The CEO joins Aker’s collective pensions system, which entitles him to an annual salary of up to 70 per cent of 12G (G= base measure in National Insurance Scheme). He has a notice period of six months and is not entitled to receive payments after leaving his position.
For further information, please contact:
Geir Arne Drangeid, EVP, Aker ASA. Tel.: +47 24 13 00 65
2Q 2010 Report