Hydro Chairperson and Three Board Members Step Down

Hydro's nomination committee is in a process to nominate a new board chairperson and board members for Hydro's upcoming board election.

Jan Reinas stepped down as chairperson of Hydro’s board of directors on August 5, 2007.

Board members Hakan Mogren, Lena Olving and Kurt Anker Nielsen have said they do not wish to stand for re-election to Hydro’s board of directors. This is primarily because they are strongly critical of the Norwegian state’s considerations related to the board’s termination of Hydro’s share option program.

Acting chairperson Elisabeth Grieg and board member Kurt Anker Nielsen will join StatoilHydro’s board of directors on October 1 and will leave Hydro’s board after the coming election.

Hydro’s nomination committee will nominate candidates for chairperson and shareholder-elected representatives. Hydro’s corporate assembly will elect the board members. Employees will choose the three employee-elected representatives on Hydro's board separately