Eivind Kallevik has been the new CEO of the Norwegian aluminium and energy company Norsk Hydro ASA since 13 May 2024. Kallevik succeeds Hilde Merete Aasheim, who has decided to step down after five years.

Kallevik was previously Executive Vice President and Head of Hydro's Aluminium Metal business area, a position he has held since 2019. From 2013 to 2019 he was CFO at Hydro. Prior to that, Kallevik held several leadership positions, including in the Bauxite & Alumina business area and in the company's downstream aluminium business.

Eivind Kallevik is the new President and CEO of Hydro. Photo: Halvor Molland/Hydro 

Hilde Merete Aasheim has been working in Hydro for 17 years and will leave the company end of June, 2024. "Hilde Merete Aasheim has led the company through a period where we have seen significant changes in the world around us. 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,” says Mejdell. 

"I am excited to take the next step for Hydro together with our 32,000 competent and engaged employees, with our strategic direction towards 2030 as a strong foundation. 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. Strong control of our cost position and continuous improvement efforts will remain the backbone of Hydro’s operations, combined with our unique capabilities to develop innovative technologies and commercial opportunities," says Kallevik. 

Kallevik is supported in his goal of accelerating the transition to green aluminium that is powered by renewable energies by members of the Executive Leadership Team.

• Hanne Karine Simensen, former head of Hydro Aluminium Metal’s Commercial operations, is the new head of Aluminium Metal following Eivind Kallevik.
• Kari Ekelund Thørud, who is currently head of Ownership Governance in Hydro Energy, has been appointed as new head of Hydro Energy, as Arvid Moss has decided to step out of the role after 16 years in Hydro’s Executive Leadership Team. The change will be effective July 1, 2024. Moss will continue in the capacity as Chairman of the Board of Hydro Rein and have a position as special advisor to the CEO.
• Trond Olaf Christophersen, Executive Vice President for Corporate Development and interim Chief Financial Officer (CFO), will take on the role as CFO. The Corporate Development portfolio will continue to report to Trond Olaf Christophersen.

With the new Executive Leadership Team, the share of women in Hydro’s top leadership is now 55 percent.

Members of Hydro’s Executive Leadership Team: Hanne Karine Simensen, Kari Ekelund Thørud & Trond Olaf Christophersen. Photos: Hydro 

“It’s about accelerating growth in recycling, extrusions and in energy solutions supporting our decarbonization roadmap. It’s about accelerating our ability to create value for all stakeholders, our employees, society, customers and investors. It’s also about accelerating our efforts within sustainability and executing on our decarbonization roadmap, while at the same time raising our game of contributing to nature positive, as well as securing a just transition,” says Kallevik.

Strong control of Hydro’s cost position and continuous improvement efforts will remain fundamental for the company going forward. Current weaker market conditions do not change Hydro’s long-term outlook for an overall increased aluminium demand. Towards 2030, demand for low-carbon aluminium is expected to increase faster than overall demand growth.

“We have ambitious targets for continued improvements towards 2030, as well as commercial objectives. We will not be able to invest in growth, value creation and sustainability unless we continuously strengthen our cost-position and profitability,” says Kallevik.