The board considers all members of the nomination committee to be independent of Statoil's management and board of directors.
The duties of the nomination committee are to submit recommendations to:
- The annual general meeting concerning the election of shareholder-elected members and deputy members of the corporate assembly, and the remuneration of members of the corporate assembly;
- The annual general meeting concerning the election and the remuneration of members of the nomination committee;
- The corporate assembly concerning the election of shareholder-elected members of the board of directors and the remuneration of the members of the board of directors, and
- The corporate assembly concerning the election of the chair and the deputy chair of the corporate assembly.
The nomination committee invites Statoil's largest shareholders to propose shareholder-elected members to the corporate assembly and the board of directors, as well as members to the nomination committee. In addition, all shareholders have an opportunity to submit proposals through a solution on our website. In the board nomination process, the nomination committee receives the results from the annual board evaluation process, and individual meetings are held with the board members to discuss the evaluation. The chair of the board and the chief executive officer are invited, without having the right to vote, to attend at least one meeting of the nomination committee before it makes its final recommendations. The committee regularly utilises external expertise in its work.
The members and the chair 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. The general meeting decides the remuneration of the nomination committee.
More information about the members of Statoil ASA's nomination committee and the committee's rules of procedure are available on our website at www.statoil.com www.statoil.com .
The electronic mailbox for shareholders' proposals to the committee, with deadlines for submitting proposals where such apply, is accessible on our website at www.statoil.com www.statoil.com .
The rules of procedure for the nomination committee have been decided by a general meeting of shareholders. The rules of procedure state that the nomination committee should , among other things, focus on the following criteria when preparing nominations: experience, qualifications, capacity, appropriate rotation, gender and independence. The nomination committee's recommendations to the general meeting of shareholders or to the corporate assembly are published in advance and justified before or at the meeting.
The company covers the costs of the nomination committee.
The nomination committee held 10 meetings in 2011.