Mr. Kjell Pedersen, president and CEO of Petoro AS has announced his retirement from his position, effective June 12 2013.
Petoro is managing The State's Direct Financial Interest (SDFI) on the Norwegian continental shelf. Chairman of the board of directors, Mr. Gunnar Berge, said Kjell Pedersen (60) retires in accordance with his terms of employment, and subsequent to splendid achievements in managing and building Petoro as an efficient and acknowledged caretaker of the government's own assets offshore Norway.
Mr. Berge said the board of directors will immediately start work to find a new CEO for the company
Reflecting on a great time as CEO of Petoro, Kjell Pedersen said that "after close to 12 years as head of the company, from the very start, I have reached the conclusion that the time has come to hand the wheel over to someone else. Up to my departure in June, I will concentrate on leading the company and at the same time contribute to an efficient transition to a new leader which the board of directors will appoint. This is a management position I can strongly recommend. "
Pedersen adds that time will show what he himself is going to do after Petoro.