Statoil’s board of directors has appointed Eldar Sætre as new president and CEO. Sætre has been acting as president and CEO since October and assumes the role with immediate effect. He has 35 years of experience from Statoil and the oil and gas industry.

Sætre has extensive operational and financial experience from Statoil. He has been a member of the corporate executive committee since 2003.

He started as CFO and later became executive vice president for the marketing, processing and renewable energy business area.