Hilde Merete Aasheim assumed her position as Hydro's new President and CEO on
Wednesday, aiming to lift profitability and accelerate the company's drive to
become a leading provider of advanced, low-carbon products and solutions.
Aasheim introduced several measures in support of her business agenda, which
include renewing the company's corporate management board, restructuring and
strategic review of the Rolled Products business area, ensuring stricter capital
discipline and capital allocation, as well as revitalizing on-going improvement
programs and identifying new improvement ambitions in all business areas and
staffs. A reinforced improvement agenda for the company will be developed and
presented during the third quarter.
"While we remain optimistic about the long-term prospects for aluminium and
Hydro as the world moves towards the low-carbon, circular economy, we must
acknowledge the challenges that must be addressed to strengthen our performance
and cash generation," Aasheim says, adding that Alunorte must be returned to
full production as soon as possible to allow for normal operations in Brazil.
"We will increase our ambitions on operational excellence and ensure stricter
financial discipline going forward, and we will explore all options to improve
earnings from Rolled Products for the future," she says.
Eivind Kallevik is will take over as head of Primary Metal after Hilde Merete
Aasheim, effective August 15. Einar Glomnes, former head of global joint
ventures in Primary Metal, is replacing head of Rolled Products Kjetil
Ebbesberg, effective immediately, while Pål Kildemo will take over as CFO after
Eivind Kallevik, effective August 15. In the interim period, Kildemo will be
acting head of Primary Metal in addition to his current role as Head of Finance
in Primary Metal.
Innovation and sustainability
According to Aasheim, Hydro will increase its efforts within advanced, low-
carbon aluminium products and solutions, based on a more sustainable footprint
through the value chain and life-cycle of aluminium.
"Customers are increasingly seeking advanced solutions with the lowest-possible
impact, from building and construction to automotive, packaging and electronics.
This enables us to commercialize our best-in-class footprint and leading
positions within process technology and product innovation," says Aasheim.
Hydro is already the only aluminium company able to provide the global building
and construction sector with solutions containing at least 75 percent post-
consumer scrap through its certified 75R alloy, and also offers low-carbon
primary aluminium with a maximum CO2-footprint of 4 kilos per kilo aluminium.
Investor contacts
Stian Hasle
+47 97736022
Stian.Hasle@hydro.com
Olena Lepikhina
+47 96853035
Olena.Lepikhina@hydro.com
Press contact
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act