Hallvard Granheim named new CFO of Statkraft

(Oslo, 6 June 2014) Hallvard Granheim has been appointed Executive Vice President and Chief Financial Officer (CFO) of Statkraft. Granheim comes from the position as Head of Financial Reporting, Accounting and Tax in the company.

"I am very pleased with the appointment of Hallvard Granheim as our new CFO. We had several highly qualified candidates. Granheim has solid experience and will contribute to Statkraft achieving its strategic goals," says President and CEO Christian Rynning-Tønnesen.

For the last one and a half years, Granheim's responsibilities have included internal and external reporting in Statkraft. He holds a Master of Business Administration from the Norwegian School of Economics and has international experience from the energy-intensive industries, including  as Vice President of Global Energy Sourcing and Trading in Norske Skog. His background also includes positions as accountant and financial advisor in Deloitte. Now he is set to further develop the CFO organisation in a period where Statkraft is growing internationally.

"Few companies can offer the exciting opportunities and challenges of Statkraft. With a solid foothold in Norway, this is a growing company within renewable energy. Statkraft is investing heavily both in Norway and in international markets, and I look forward to becoming part of the corporate management team," says Hallvard Granheim.

The new CFO will take up his position on 30 June.

Statkraft is Europe's largest producer of renewable energy and the leading power company in Norway. The Group owns, produces and develops hydropower, wind power, gas-fired power and district heating. Statkraft is a major player in European power trading and has 3600 employees in more than 20 countries.

Contacts:

Bente E. Engesland, SVP Corporate Communications
Tel.: +47 911 59 952
E-mail: bente.engesland@statkraft.com

Thomas Geiran, Head of Investor Relations
Tel.: +47 905 79 979
E-mail: thomas.geiran@statkraft.com

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