Norske Skog Names Ombudstvedt as New CEO

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Sven Ombudstvedt, former CFO and senior VP of Yara International and head of corporate strategy at Norsk Hydro ASA, has been named the new CEO of Norske Skog, Lysaker, Norway. He assumed his new position at the beginning of this year. Ombudstvedt succeeds Christian Rynning-Tønnesen, who will leave Norske Skog and take over as head of Norway-based Statkraft.

"The board has considered several highly-qualified candidates, and we are convinced that we have found the best person to take over as chief executive of Norske Skog," said Eivind Reiten, chairman of the board.

The board has focused on finding Rynning-Tønnesen's successor since he informed the board in November that he will return to Statkraft, where he previously worked for 13 years.

Ombudstvedt was head of Yara's upstream activities from 2003 to 2006, and was CFO of the company from 2006 to 2008. From 1991 to 2003, he worked for Hydro, where he was based in Brussels for several years, with responsibilities in marketing, analysis, and restructuring of Hydro's fertilizer division. He was head of Hydro's corporate strategy unit from 2002 to 2003. Since 2008 he has been an executive with SCD, a Paris-based company focusing on M&A activities in the chemical industry.