Board of directors

BOARD OF DIRECTORS

In accordance with Norwegian law, the Board of Directors is responsible for administering the Company’s affairs and for ensuring that the Company’s operations are organized in a satisfactory manner.

The Company’s Articles of Association provide that the Board of Directors shall have no fewer than 3 members and no more than 6 members. In accordance with Norwegian law, at least half of the members of the Board of Directors, and the CEO/general manager, must either be resident in Norway, or be citizens of and resident in an EU/EEA country. Also, there is a minimum requirement regarding female representation. The members of the Board of Directors are elected by the general meeting of shareholders. The Company’s Board of Directors serve two-year terms. There is no limitation on the number of terms a director may serve.
 

Chairman

Lars Solbakken

Lars Solbakken

Mr. Solbakken is currently CEO of Ocean Yield AS. He previously served as CEO of Norwegian Car Carriers ASA from 2009 through 2012. From 2006 to 2009 he served as CEO of Ship Finance Management AS and through that position, he also served as CEO of Ship Finance International Limited. In the period from 1997 through 2006, Mr. Solbakken was employed as General Manager of Fortis Bank in Norway and was also responsible for the bank’s shipping and oil service activities in Scandinavia. From 1987 to 1997, Mr. Solbakken served in several positions in Nordea Bank (previously Christiania Bank). He was Senior Vice President and Deputy for the shipping and offshore and aviation group, head of equity issues and merger and acquisition activities and General Manager for the Seattle Branch. Prior to joining Nordea Bank, Mr. Solbakken worked five years in Wilh. Wilhelmsen ASA as Finance Manager. Mr. Solbakken has a Master of Science degree from the Norwegian School of Economics and Business Administration in Bergen.
 

Board Member

Arne Hygen Tørnkvist

Arne Hygen Tørnkvist

Mr. Tørnkvist (born 1965) is President and Chief Executive Officer. In 2008 he was promoted from the position as EVP and Technical Director which he held since 2006. Prior to this, he was Director of Engineering and Project Management of Bergesen Offshore (now BWO), where he worked from 1996–2006. He has also worked for Det Norske Veritas in Norway and Korea from 1991–1996. Mr. Tørnkvist is a graduate of the Norwegian University of Science and Technology; (NTNU) in Trondheim, and holds a Master Degree in Science (MSc) in Naval Architecture and Marine Engineering. Mr. Tørnkvist is a Norwegian citizen.
 

Board Member

Mikkel Martens

Mikkel Martens

Mr. Martens (born 1951) is EVP Project Development. Prior to this he was Senior Vice President for Technology and Products in Vetco Aibel, where he worked from 2004. From 1991 to 2004, he held various positions for ABB, last as Senior Vice President of ABB Offshore Systems.
He is a graduate of the Norwegian University of Science and Technology (NTNU) in Trondheim, and holds a Master Degree in Science (MSc) in Naval Architecture and Marine Engineering and a Degree in Economics and Business Administration from the Norwegian School of Management (BI). Mr. Martens is a Norwegian citizen.