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CEO Svein Tore Holsether to leave Sapa to become Yara CEO

Svein Tore Holsether

Svein Tore Holsether

Svein Tore Holsether, President and CEO in the aluminium solutions company Sapa, has informed the Board of Directors that he will leave Sapa to take over as President and CEO for Norwegian fertilizers group Yara International ASA.

Holsether will take over as CEO for Yara from October 1, 2015, at the latest. Until he takes on his new role in Yara, he remains committed to his current role as President and CEO for Sapa.

The process to find a replacement for Holsether has started, and a new President and CEO for Sapa will be announced in due time.

Sapa is a 50/50 joint venture owned by Hydro and Orkla.

For further information, see press releases from Yara ( http://www.yara.com/media/press_releases/index.aspx) and Sapa ( http://www.sapagroup.com/en/newswall/).

Orkla ASA

Oslo, 30 March 2015

Ref.:

Orkla ASA

Group Director Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828
Email: hakon.mageli@orkla.no

SVP Investor Relations
Rune Helland
Tel.: +47 977 13 250
Email: rune.helland@orkla.no

Norsk Hydro ASA

Investor contact
Pål Kildemo
Tel.: +47 97096711
Email: Pål.Kildemo@hydro.com

Press contact
Halvor Molland
Tel.: +47 92979797
Email: Halvor.Molland@hydro.com