In accordance with StatoilHydro's articles of association the nomination committee (referred to as the election committee in the articles of association) consists of four members who are shareholders, or representatives of shareholders.
The committee is independent of both the board and the company's management.
The duties of the nomination committee are:
- to present recommendations to the AGM for the election of shareholder-elected members and deputy members of the corporate assembly
- to present recommendations to the corporate assembly for the election of shareholder-elected members to the board of directors
- to present a proposal for the remuneration of members of the board of directors and the corporate assembly.
A form for shareholders' nomination of candidates is made available in connection with nomination to the board of directors.
The members of the nomination committee are elected by the AGM. Two of the members are elected from among the shareholder-elected members of the corporate assembly. Members of the nomination committee are elected for a term of two years.
The members of the nomination committee are:
- Olaug Svarva (chair), managing director, Folketrygdfondet
- Gro Bækken, secretary general, Save the Children Norway
- Tom Rathke, managing director, Vital Forsikring and Executive Vice President, DnB NOR
- Bjørn Ståle Haavik, acting secretary general, Ministry of Petroleum and Energy
The nomination committee held eight meetings in 2008.
