Statoil ASA says it expects to implement its name change to Equinor ASA from, and including, May 16.
On Tuesday May 15, Statoil’s annual general meeting (AGM) will hold a vote on the proposal to change the company’s name. Statoil said it will announce the result of the voting after the AGM and expects to announce the implementation of the name change before 09:00 (CEST) on May 16.
Earlier this year, Statoil’s board of directors proposed to change the name of the company to Equinor to support the firm’s development as a broad energy business.
The proposal has already garnered support from all five unions representing Statoil employees, comprising Industri Energi, SAFE, NITO, Tekna and Lederne, as well as the Norwegian government, which is a majority shareholder in the company.
“The world is changing, and so is Statoil. The biggest transition our modern-day energy systems have ever seen is underway, and we aim to be at the forefront of this development,” Statoil’s chair of the board, Jon Erik Reinhardsen, said in a company statement back in March.
“Our strategy remains firm. The name Equinor reflects ongoing changes and supports the always safe, high value and low carbon strategy we outlined last year,” he added.