Svein Richard Brandtzæg has been named chief executive of Norsk Hydro ASA, with effect from 30 March 2009. He succeeds Eivind Reiten, who has informed the board of directors that he wishes to step down after nearly eight years in this position. The board said it accepted Reiten’s decision with regret as well as with understanding.

Svein Richard Brandtzæg, 51, is an executive vice president of Hydro with responsibility for the Aluminium Products business area, which mainly includes the company’s semi-finished product activities with some 16,500 employees. In addition, Brandtzæg, who holds a Ph.D. in chemistry from the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway, is also head of the Hydro Technology Board

Since he started his carrier at Årdal og Sunndal Verk in 1985, Brandtzæg has held a number of different management positions along the company’s whole value chain – both in the production of aluminium and its processing.

Eivind Reiten, 55, has worked for Hydro since 1986 and has been chief executive since May 2001. During his almost 23 years at Hydro, Reiten has held various management positions in the aluminium, magnesium, agriculture, oil and energy business areas. Under his leadership, the group also underwent a fundamental change from an industrial conglomerate to one of the world’s leading companies in the fields of aluminium and energy.