The board has considered the chief executive's position and, based mainly on what is best for the group's interests, takes the view that he is still the person best suited to take Statoil forward. It is the board's opinion that Olav Fjell has shown decisiveness and has delivered good results during his four years as head of the group. He enjoys respect both within and outside Statoil. Chief executive Olav Fjell retains the confidence of the whole board of directors.
The board emphasizes that the ambitions for Statoil's internationalization will be upheld with high ethical standards. It is the opinion of the board that the group can succeed internationally without becoming involved in activities which are in a borderland as regards ethical norms and rules.
The administration has presented a plan of action to which the board has given its support. The board will closely follow up the following elements:
The board attaches importance to lending all possible assistance to the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (ěkokrim), and emphasizes that complete clarification of this case is in Statoil's interests.
The chairman of the board has apologized to the directors for not immediately informing them collectively of this issue. The board has taken note of this.
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