The nomination committee (in Statoil's articles of association referred to as the "election committee") is independent of both the board and the company's management.
The duties of the nomination committee are:
- to present recommendations to the general meeting of shareholders for the election of shareholder-elected members and deputy members of the corporate assembly and members of the nomination committee
- 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, the nomination committee and the corporate assembly.
The members of the nomination committee are elected by the general meeting of shareholders. Two of the members are elected from among the shareholder-elected members of the corporate assembly. Members of the nomination committee are normally elected for a term of two years.
More information on the members of Statoil ASA's nomination committee and the committee's rules of procedure can be found on our website at: www.statoil.com/electioncommittee.
Furthermore, an electronic mail-box for shareholders' proposals to the committee is accessible on our website at www.statoil.com/proposecandidate.
The nomination committee's rules of procedure are determined by the corporate assembly's shareholder-elected members, at the proposal of the board of directors.The rules of procedures state that the nomination committee will inter alia focus on the following criteria when preparing nominations: experience, competence, capacity, appropriate rotation, gender and independence.
The company covers the costs of the nomination committee.
The nomination committee held 16 meetings in 2009.