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Norsk Hydro names Kallevik finance chief; Rostrup exits

Keywords: Tags  aluminum, Norsk Hydro, Eivind Kallevik, Jørgen Arentz Rostrup, Suzy Waite

LONDON — Norsk Hydro ASA has named Eivind Kallevik as executive vice president and chief financial officer effective Feb. 15.

Kallevik, currently head of finance for Norsk Hydro’s bauxite and alumina business, will also join the aluminum company’s corporate management board, the Oslo-based producer said.

"Kallevik has broad operational and strategic experience from Hydro’s entire value chain, giving him a solid platform for the job as Hydro’s (chief financial officer)," Norsk Hydro president and chief executive officer Svein Brandtzæg said in a statement.

Kallevik, who joined the company is 1998, replaces existing executive vice president and chief financial officer Jørgen C. Arentz Rostrup, who has been at the company for more than two decades and is leaving to "pursue other opportunities," the company said.

"Rostrup, after serving in numerous key positions throughout the company, has done a tremendous job in a critical transformation phase for Hydro, when the company has executed two major transactions—the Vale bauxite and alumina acquisition in 2011 and the planned Sapa joint venture, expected to close in (the) first half 2013," Brandtzæg said. "He has been a driving force behind impressively effective improvement programs, which have provided the company with a solid platform for the future."

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