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12 March 2021 7:41 GMT Updated 12 March 2021 7:51 GMT in London
Eldar Saetre, the most recent former chief executive of Norwegian energy giant Equinor, is set to join the board of industry contracting stalwart Subsea 7.
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Saetre has been proposed as an independent non-executive director of the Oslo-listed company, with the appointment being effective from 1 June this year.
Equinor
revealed in August last year that veteran Saetre would relinquish the position of chief executive on 2 November after six years in the top job, and over 40 years with Equinor in which he has served in senior management roles including chief financial officer.
The Subsea 7 (Oslo Bors: SUBC, ADR: SUBCY) board of directors has proposed Eldar Saetre for election as an independent non-executive director at the company s next annual general meeting.
Subsea 7 S.A. (Oslo Bors: SUBC, ADR: SUBCY) announced on Friday that its board of directors has proposed Eldar Saetre for election as an independent non-executive director at the company’s next annual general meeting (AGM), which is scheduled to take place on April 14, 2021.
The company outlined that Saetre’s appointment would be effective on June 1, 2021. Saetre served as Equinor’s president and chief executive officer from October 15, 2014, to November 2, 2020. He first joined the company back in 1980 and worked as Equinor’s executive vice president and chief financial officer from October 2003 until December 2010 and held the position of executive vice president for marketing, processing, and renewable energy from 2011 to 2014.
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