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CARBON TAX ON BUNKER FUEL
IMO is looking at a global levy (tax) on marine fuels. Do you think this is

a really good idea
an unfortunate necessity
a bad idea
a really bad idea

Marine Log

June 3, 2008

Aker Yards names new President and CEO

NEW AKER YARDS CEO

Torstein Dale Sjøtveit has been appointed new president and CEO for Aker Yards ASA.

He comes to Aker Yards from Norsk Hydro, and is to take up his new position with Aker Yards by September 1, 2008, at the latest.

Torstein DaleSjøtveit has held a number of key management positions in Hydro since 1981, both within oil and gas activities, within polymers and petrochemicals, industrial maintenance and other parts of the company's international business.

His career has included working in West Africa for six years.

He has lately held the position as president for Hydro Aluminium Metals, Hydro's upstream aluminum business with operations in 13 countries, 5, 000 employees and revenues of NOK 60 billion.He has also held the position as executive vice president and been part of Hydro's corporate management.

Aker Yards says he has "a strong experience in leadership from large and complex organizational structures, restructuring, and divestment processes, negotiations and relationship building in a number of different cultural environments as well as from broad commercial settings. His formal training includes education as a construction engineer from 1979."

Aker Yards has been looking for a new CEO since March 3, when it announced that Yrjö Julin had ceased to be CEO "with immediate effect." Since then In the intermediate period, the chairman of the board of directors, Svein Sivertsen, has acted as CEO.

"We are very pleased that we get Torstein Dale Sjøtveit in as the new CEO for Aker Yards. He brings with him an understanding of hands on management combined with a strong industrial experience and a strategic approach to further developing the business and the organization," says Sivertsen.


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