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/).
Oslo, 30 March 2015
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