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Former Shell CEO recommended for position on Statoil’s board of directors

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LNG Industry,

Statoil has released a statement claiming that the nomination committee has recommended Jeroen van der Veer for a position on the company’s board of directors.

Currently, Statoil’s board of directors has 10 members – seven of whom were elected by shareholders, and three of whom were elected by employees. As stated by section 4 of the company’s articles of association, the board may have between nine and 11 members. Van der Veer would, therefore, fill this final position.

Van der Veer joined Shell in 1971 and has experience serving within all sectors of the company. As of 2004, he was the CEO of Royal Dutch Shell until he retired in 2009. Following his retirement, Van der Veer continued to serve as a non-executive director on Shell’s board until 2013.

Among other things, van der Veer is the chair of the supervisory boards of ING Bank NV and Royal Philips Electronics. He is also a member of Boskalis Westminster Groep NV’s supervisory board.

Statoil’s corporate assembly will make its decision on 17 March 2016. The election will enter into effect the following day, until the shareholder-representatives’ election takes place in 2017.

Edited from press release by David Rowlands

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