Eiliv Gjesdal appointed CFO of Kvaerner

6. May 2011 - Eiliv Gjesdal has been appointed Chief Financial Officer (CFO) of Kvaerner. Gjesdal is following the appointment of Jan Arve Haugan as President and Chief Executive Officer (CEO).

Gjesdal joined Aker Solutions in 2002 and has extensive experience from finance functions in Aker Solutions as well as a background as a state authorised public accountant. Gjesdal startet his carreer as an auditor with Arthur Andersen & Co working with large Norwegian companies.

 "We are very pleased with being able to appoint a CFO of Gjesdal's stature and experience to the management team of Kvaerner. Gjesdal has an impressive background from Aker Solutions combined with a solid understanding of finance and accounting, says Jan Arve Haugan, CEO of Kvaerner.

Gjesdal will enter the position as CFO with immediate effect.

About Kvaerner

Kvaerner is a specialised engineering, procurement and construction (EPC) provider. The company is working on some of the world's most demanding projects as a preferred partner for upstream and downstream oil and gas operators, industrial companies and other engineering and fabrication providers.

Kvaerner provides a wide range of technologies, solutions and products for offshore topsides and substructures and complete onshore plants. Kvaerner has more than 3,100 in-house employees in 12 locations worldwide. Kvaerner's head office is in Norway.

 

ENDS

 

For further information, please contact:

Media:

Mariken Holter, SVP Corporate Communications, Kvaerner, Tel: +47 67 52 74 35, Mob: +47 91 78 73 58

Geir Arne Drangeid, EVP Corporate Communications, Aker Solutions, Tel: +47 67 51 30 36, Mob: +47 913 10 458

Investor relations:

Lasse Torkildsen, Senior Vice President IR, Aker Solutions, Tel: +47 67 51 30 39, Mob: +47 911 37 194