Hydro’s New Chief Hilde Merete Aasheim Announces Corporate Changes And New Strategy

Hilde Merete Aasheim assumed her position as Hydro’s new President and CEO and introduced several changes in the company’s corporate management board. The new CEO will lead a refreshed leadership team focusing on increasing Hydro’s profitability and expanding company’s sustainability credentials.

Ascending to her leadership position, Aasheim named Eivind Kallevik as head of Primary Metal, 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 Chief Financial Officer 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.

Ready to take on new challenges as CEO of @NorskHydroASA. Leading such an amazing team is a privilege and I am excited to get started! @SRBrandtzag pic.twitter.com/q0n42OskNS

— Hilde Merete Aasheim (@AasheimHilde) May 8, 2019

At the same time, Aasheim explained her business agenda setting to review Hydro’s Rolled Products business segment, enforce strict capital discipline, and refresh existing improvement programmes.

“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,” said Aasheim hoping that Hydro’s Alunorte refinery in Brazil promptly returns to full capacity.

Hydro is also increasing its efforts to advance the company’s sustainability agenda moving towards low-carbon aluminium products. The company’s extrusion facilities in Germany and Belgium became last week its latest operations to be certified to the ASI Performance Standard.