Hydro board appoints new CEO

Eivind Kallevik has been appointed president and CEO of Norwegian aluminum and energy company Norsk Hydro ASA. Kallevik will succeed Hilde Merete Aasheim effective May 13 as the company says Aasheim has decided to step down after five years.

Kallevik is an executive vice president and head of Hydro's Aluminium Metal business unit, a position he has held since 2019.

From 2013 to 2019, he was the chief financial officer of Hydro. Prior to that, Kallevik held several management positions at Hydro, including in its Bauxite & Alumina business unit and in the downstream aluminum sector.

“I am pleased to announce that Eivind Kallevik has accepted the job as president and CEO of Hydro,” says Dag Mejdell, chair of Hydro's board of directors. “Throughout his more than 30 years of experience from Norwegian and international finance and industry, Eivind has a strong track record of developing the business, capturing opportunities, and maneuvering the industrial landscape and markets. I am confident Eivind has what it takes to lead Hydro towards 2030 and beyond.”

“I am excited to take the next step for Hydro together with our 32,000 competent and engaged employees, with our strategic direction toward 2030 as a strong foundation," Kallevik adds.

The newly named CEO also refers indirectly to the company’s investments in recycled-content metal production. “Our low-carbon efforts throughout our value chain are placing Hydro in a leading position in the green transition and providing a platform to accelerate our strategic partnerships,” he says.

Aasheim will end a 17-year stint with Hydro this June. Under her leadership, Hydro expanded its recycled-content aluminum production, including in the United States by adding capacity in Kentucky, Michigan and Pennsylvania. In Europe, Hydro melts scrap in Germany, Hungary, Norway and Poland.

“Hilde Merete Aasheim has led the company through a period where we have seen significant changes in the world around us,” Mejdell says. “She has demonstrated a strong ability to manage short-term challenges while positioning the company for long-term opportunities together with the rest of the organization. During her tenure, Hydro has strengthened profitability and significantly lifted the sustainability agenda.”