The Board of Yara International ASA has appointed Svein Tore Holsether as the company’s new CEO. He succeeds acting CEO Torgeir Kvidal and joins later than 1 October 2015.
Holsether is currently the CEO of Sapa Group, a position he has held since 2011. Previously, he held a number of management positions in Elkem, Orkla and Sapa. Holsether born in Norway in 1972 and has a Bachelor of Science in Finance from the University of Utah.
– Svein Tore Holsether perfect for Yara and the Board is very pleased that he takes position in the company. His extensive background in international industry along with his personal qualities make him highly qualified for the position as CEO, says chief Leif Teksum.
– I appreciate having the opportunity to work in Yara. The company is doing well and has a unique position globally. In a time of a number of global challenges, I look forward to contributing to delivering solutions related to fundamental needs such as food security and improve the environment, “said Svein Tore Holsether.
Torgeir Kvidal, who has been acting CEO since October 2014, will return to his previous position as CFO. Meanwhile, Thor Giæver, who is acting CFO, return to his position as head of investor relations.
– Torgeir Kvidal has done an excellent job as acting CEO in recent months, which has been recognized both of employees and external stakeholders. Meanwhile Board of Directors appreciates his desire to resume his position as CFO, so that he will continue to be a valuable contributor to Yara management, “says Leif Teksum.
Sapa is a joint venture owned 50/50 Hydro and Orkla.
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