Statoil’s board of directors and chief executive Eldar Sætre have agreed that Sætre will continue as CEO after he turns 62 in February 2018. Eldar Sætre will thus not use his contractual right to retire at the age of 62.
Sætre was appointed chief executive on 4 February 2015, after being acting CEO since 2014.
Under his individual pension agreement Sætre had the right to retire at the age of 62, after just three years as chief executive. Sætre will at the latest retire when he turns 67, but he retains the right to retire at an earlier stage.