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    Change at the top for ODIM

    News // July 27, 2009

    Jogeir Romestrand has decided to step down as CEO of ODIM ASA in Norway after 24 years with the company. Arild Hatløy has been appointed acting CEO. Born in 1961, Hatløy has been with ODIM since 1992 and has served as chief financial officer of the company since 2003.

    "Under Jogeir Romestrand’s dynamic leadership, ODIM has become renowned for its bold combination of innovation and operational development," said Karl Erik Kjelstad, chairman of ODIM. "The board wishes to express its appreciation of the big contribution made by Mr Romestrand to developing the company."

    “With Rolls Royce as a new major shareholder, we’re definitively entering a new phase and I think the time is right for a change of leadership,” commented Romestrand. "I’ve enjoyed 24 fabulous years here, and am proud to have headed a team which has multiplied shareholder value sevenfold. Together we’ve developed ODIM into a global player and a leader in its core markets.”

    Hatløy has been appointed acting CEO with immediate effect, while retaining his current role as CFO. "Arild Hatløy has a solid industry track record and in-depth knowledge of ODIM through his 17 years with the company, and the board is very pleased that he has agreed as its acting CEO," said Mr Kjelstad.

    Romestrand will continue to work for ODIM in an advisory capacity for a time in order to ensure a smooth transition. Meanwhile, the board will immediately start the process of appointing a new permanent CEO.

     

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