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Equinor CEO Eldar SæTre Leaves The Company, Anders Opedal Taking Over As President

Equinor CEO Eldar SæTre Leaves The Company, Anders Opedal Taking Over As President

Eldar Sætre, who was head of Norwegian oil and gas company Equinor for six years, is leaving the company. Since November 2, 2020, Equinor CEO will be Anders Opedal, who served as Vice President, the company said in a statement.

The Board of Directors approved Opedal's candidacy. "Equinor is entering a period of significant change when the world requires strong action in the fight against climate change," the report notes. Opedal started working for the company in 1997 as an engineer, and now serves as Vice President for technology, projects, and drilling.

Setra turns 65 next year, so he notified the Board of Directors of his plans to end his career. Setre will be an adviser to the new head of the company until March 2021, then retire. In total, he worked at Equinor for 40 years, six of which he headed The company.

The Board of Directors of Equinor (OSE: EQNR, NYSE: EQNR) has appointed Anders Opedal as new president and CEO of Equinor from 2 November 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company.

Equinor is one of the largest international energy companies, producing about 2 million barrels of oil equivalent per day. It accounts for approximately 70% of Norwegian production. The company invests a lot in the construction of alternative energy sources.

The company was formed in 1972 as Statoil and changed its name to Equinor in 2018. 67% of the company belongs to the state.

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