Statoil appoints acting chief financial officer

Norway's Statoil ASA has appointed Eldar Sætre as acting chief financial officer, executive vice-president, and a member of Statoil's corporate executive committee.

Oct. 3, 2003

By OGJ editors
HOUSTON, Oct. 3 -- Norway's Statoil ASA has appointed Eldar Sætre as acting chief financial officer, executive vice-president, and a member of Statoil's corporate executive committee.

He will be responsible for various functions including corporate control, planning and accounting, group finance, and corporate audit.

Sætre is a business economist. He joined Statoil in 1980 and has held numerous positions. He became senior vice president for corporate control, planning and accounting in 1998.

Former Statoil Pres. and CEO Olav Fjell resigned Sept. 23 in the sake of corruption allegations involving Statoil's dealings with Horton Investment, an Iranian firm. Inge K. Hansen, Statoil chief financial officer, was named the company's acting CEO (OGJ, Sept. 29, 2003).