By Any Other Name: StatoilHydro to Make a Change in 2009

The boards of both StatoilHydro and Hydro have agreed to discuss a proposal for a new name and logo at the group's 2009 annual meeting.

Changing the name of the newly merged (Oct. 1, 2007) company had always been on the books. While the boards of both Statoil and Hydro decided to go with StatoilHydro for the interim, it was also decided at merger negotiations that a different name and logo that represented the new "company's business strategy, values base and vision" would eventually go into affect.

The company originally planned the branding change for the 2008 annual meeting, but the boards have agreed to hasten the change until 2009; a wait for which the merger agreement allowed.

StatoilHydro has expressed that it needs more time to develop its internal and external business strategy before tackling the new name and logo. The extra year will ensure that proper attention is paid to the change.

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