Statoil nominates ex-Shell CEO to its board

Statoil nominates ex-Shell CEO to its board

The nomination committee in Norwegian Statoil recommended that the company’s corporate assembly elects Jeroen van der Veer as a new member of Statoil’s board of directors.

Van der Veer was the CEO in Hague-based LNG giant Shell in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013, Statoil said in its statement.

He is inter alia the chair of the supervisory boards of ING Bank NV and Royal Philips Electronics and member of the supervisory board of Boskalis Westminster Groep NV. Van der Veer is a Dutch citizen.

The board of directors in Statoil currently consists of 10 board members, whereof seven members are shareholder-elected and three members are employee-elected.

Pursuant to section 4 of the company’s articles of association, the board of directors shall have 9 – 11 member, and an additional board member may therefore be elected in order to strengthen the board’s competence, Statoil said.

The election to Statoil’s board of directors takes place in the company’s corporate assembly meeting, Thursday, March 17.

It is proposed that the election enters into effect from March 18, until the ordinary election of shareholder-representatives to the board of directors in 2017, Statoil added.

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