Organisational changes in Noreco
(Thomson Reuters ONE) -
Stavanger, 6 September 2011: Norwegian Energy Company ASA (Noreco) has completed
a review of its organisation following the recent asset sales. This has resulted
in a leaner management structure and a substantial reduction in the number of
employees at the company's office in Denmark.
Noreco's management team has been reduced from eight to six positions, and
consists of the following:
Einar Gjelsvik, CEO
Ellen Bratland, COO & VP HSE
Lars Fosvold, VP Exploration
Rebekka Glasser Herlofsen, CFO
Kjetil Bakken, VP Investor Relations
VP Commercial (vacant)
Rebekka Glasser Herlofsen is engaged as management for hire and will continue to
act as the company's CFO until a permanent replacement is in place.
Following asset sales of USD 300 million over the last months, the company has
also decided to review its organisation and reduce administrative cost. This has
resulted in a workforce reduction of approximately 15 percent, mainly at the
company's Danish office.
Contact:
Kjetil Bakken, VP Investor Relations (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1544192]
Unternehmensinformation / Kurzprofil:
Datum: 06.09.2011 - 08:40 Uhr
Sprache: Deutsch
News-ID 62571
Anzahl Zeichen: 1841
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Organisational changes in Noreco"
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