Norsk Hydro: Change in Hydro’s Corporate Management Board

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OSLO, Norway, Oct. 18, 2016 (GLOBE NEWSWIRE) — Executive Vice President and Head of Hydro’s business area Bauxite & Alumina, Alberto Fabrini, will leave Norsk Hydro ASA. The change will be effective from October 18.

Alberto Fabrini was appointed Executive Vice President and member of Hydro’s Corporate Management Board in 2014. He was previously Chief Operating Officer in Bauxite & Alumina and plant manager of the Albras primary plant in Brazil.

Fabrini has also held the position as plant manager of Hydro’s former part-owned Alpart alumina refinery in Jamaica and plant manager at Hydro’s Kurri Kurri primary plant in Australia.


Eivind Kallevik has been appointed acting EVP/Head of Bauxite & Alumina business area. The process to find a permanent successor has started and will be communicated in due time. Kallevik will at the same time remain in his position as CFO.

Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions,  investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro’s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream businesses; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro’s key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct.  Hydro disclaims any obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Source: http://globenewswire.com/news-release/2016/10/18/880169/10165667/en/Norsk-Hydro-Change-in-Hydro-s-Corporate-Management-Board.html?f=22&fvtc=2&fvtv=1

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