On Monday, Norwegian oil and gas giant Equinor said it has appointed Anders Opedal as its new CEO with effect from November 2, 2020.
Opedal will be replacing Eldar Saetre who is set to retire after serving the company for more than 40 years.
Opedal was previously the executive vice president for technology, projects and drilling. On assuming the role of the CEO, his task will be to transformation Equinor towards more renewable energy investments.
Last month, sources had revealed that Opedal was in the fray for the top job.
“Equinor is entering a phase of significant change as the world needs to take more forceful action to combat climate change,” said Equinor’s Chairman Jon Erik Reinhardsen in a statement while adding, “The board’s mandate is for Anders to accelerate our development as a broad energy company and to increase value creation for our shareholders through the energy transition”.
In 2018, outgoing CEO, Saetre, had changed the company’s name from Statoil to Equinor and had promised to increase investments in renewables.
“We have a great starting point for what will be a massive transition with our strong assets, outstanding competence, technology and innovation skills,” said Opedal. “We will accelerate the development of Equinor as a broad energy company and our growth within renewables”.
In 1997 Opedal had joined the company as a petroleum engineer and since then he has held a variety of jobs including that of chief operating officer.