Norsk Hydro: Eivind Kallevik appointed CEO of Hydro

14 Mar 2024 07:00 CET

Eivind Kallevik has been appointed President and CEO of Norwegian aluminium and
renewable energy company Norsk Hydro ASA. Kallevik succeeds Hilde Merete
Aasheim, who has decided to step down after five years. The appointment will be
effective May 13, 2024.

"I am pleased to announce that Eivind Kallevik has accepted the job as President
and CEO of Hydro. Throughout his more than 30 years of experience from Norwegian
and international finance and industry, Eivind has a strong track record of
developing the business, capturing opportunities, and maneuvering the industrial
landscape and markets. I am confident Eivind has what it takes to lead Hydro
towards 2030 and beyond," says Dag Mejdell, chairperson of Hydro's Board of
Directors.

Kallevik is currently Executive Vice President and Head of Hydro's Aluminium
Metal business area, a position he has held since 2019. From 2013 to 2019 he
held the position as CFO in Hydro. Prior to this, Kallevik held several senior
management positions in Hydro, including the Bauxite & Alumina business area and
the downstream aluminium business.

"I am excited to take the next step for Hydro together with our 32,000 competent
and engaged employees, with our strategic direction towards 2030 as a strong
foundation. Our low-carbon efforts throughout our value chain are placing Hydro
in a leading position in the green transition and providing a platform to
accelerate our strategic partnerships. Strong control of our cost position and
continuous improvement efforts will remain the backbone of Hydro's operations,
combined with our unique capabilities to develop innovative technologies and
commercial opportunities," says Kallevik.

Hilde Merete Aasheim has been working in Hydro for 17 years and will leave the
company end of June, 2024.

"Hilde Merete Aasheim has led the company through a period where we have seen
significant changes in the world around us. She has demonstrated a strong
ability to manage short-term challenges, while positioning the company for long-
term opportunities together with the rest of the organization. During her
tenure, Hydro has strengthened profitability and significantly lifted the
sustainability agenda," says Mejdell.

Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com

Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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