Nomination Committee Proposes Yara Board
January 09 2004 - 8:43AM
PR Newswire (US)
Nomination Committee Proposes Yara Board OSLO, Norway, Jan. 9
/PRNewswire-FirstCall/ -- Norsk Hydro ASA will arrange an
Extraordinary General Meeting on 15 January 2004. On the agenda is
the demerger of Norsk Hydro ASA, where Hydro's Board proposes that
the business area Agri is established as a separately listed
company named Yara International ASA. Yara will not have a
corporate assembly, and the shareholders' representatives in the
board of directors will therefore be appointed directly by the
General Meeting. The board of Yara will consist of eight members,
of whom five will be elected by the shareholders, and three will be
elected by and among the employees. Hydro's Nomination Committee
proposes the following persons to be appointed as shareholders'
representatives in the Yara board: Oivind Lund (58 years),
chairperson: Ph.D (Dr.ing.) and business graduate, President and
Country Manager ABB Holding A.S., Turkey. Former President and CEO
of ABB A.S. Norway. Lone Fonss Schroder (42 years): Lawyer and
Master of Economics. Danish. Has previously held Senior Management
and Board positions in A.P.Moller-Maersk A/S. Board member of i.a.
Aker-Kvaerner ASA and Leif Hoegh & Co. Jorgen-Ole Haslestad (52
years): Master of Science Mechanical Engineering. Managing Director
of Siemens Industrial Solutions and Services Group, Siemens AG,
Germany. Ase Aulie Michelet (51 years): Cand.Pharm., Executive Vice
President of Amersham Health, various board positions in Norway.
Leiv L. Nergaard (59 years): Master of Science in Finance
(sivilokonom). Former Executive Vice President, now Senior Advisor
in Norsk Hydro. Chairman of Storebrand ASA and Rieber & Son
ASA, various board positions in Norway. The following persons are
proposed as members of the Nomination Committee of Yara
International ASA: * Olav Hytta, chairman of DnB NOR * Bjorg Ven,
partner in Haavind Vislie (law firm) * Eva Lystad, marketing
director, EDB Business Partner ASA * Reier Soberg, Director
General, Ministry of Trade and Industry DATASOURCE: Norsk Hydro ASA
CONTACT: Arne Cartridge, +47-22-53-32-20, or cell, +47-47-900-900,
, or Tor Steinum, +47-22-53-27-31, or cell, +47-95-08-39-33, , both
of Norsk Hydro ASA
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