Aker Yards CEO Steps Down, Co. Seeks to 'Reestablish Confidence'

Yrjo Julin has with immediate effect left the position as CEO of Aker Yards ASA. The Chairman of the Board Svein Sivertsen will in an interim period act as CEO, until a permanent CEO has been recruited.

Svein Sivertsen, Chairman and acting CEO commented, "We present weak and disappointing results for 2007. The Board believes that it is important to have a new CEO to reestablish confidence with all stakeholders and that we can put the operational challenges behind us. We have a very capable and experienced crew at Aker Yards, and we have a record high order backlog. I am confident that we will see improvements through 2008."

Julin said in a comment: "I have had six very exciting years with Aker Yards. But the last months has been very demanding. The Board and I had a common understanding that the best solution for the company going forward is that a new CEO takes over"

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