Norsk Hydro Announces Change in its Corporate Management Board

Norsk Hydro Announces Change in its Corporate Management Board
Kurri Kurri Australia plant. Source: Norsk Hydro

Norsk Hydro ASA announced yesterday that Executive Vice President and Head of Hydro’s business area Bauxite & Alumina Alberto Fabrini left the firm effective yesterday. He was replaced by Eivind Kallevik on an interim basis until Fabrini’s permanent successor is found.

Fabrini joined Norsk Hydro in the autumn of 2013 after an eight-month stint as the president and CEO of Albras SA. Prior to Albras, Fabrini was managing director at Paranapanema SA from January 2012 to January 2013. He was the CEO of Hydro’s Kurri Kurri primary plant in Australia for fifteen months from late 2010 to early 2012, and was a senior project manager for Hydro from the autumn of 2009 to the autumn of 2010. Fabrini was managing director at Hydro’s joint venture Alpart from the summer of 2007 to the summer of 2009. He started his career at Alcoa, where he worked in several different capacities for over twenty-four years.

Kallevik began at Hydro in 1998 and labored in several different areas within the company, including corporate accounting, financial reporting, performance management, and treasury. He became head of Finance at the firm’s new Bauxite & Alumina business area after it took over Vale’s operations in 2011. Before joining Hydro, Kallevik worked in various roles in Christiania Bank’s Oil and Gas Financing operations in its offices in Oslo, Norway, and New York City, United States.

Norsk Hydro, which was founded in 1905, financed by the Swedish Wallenberg family and French banks, began its life named Norsk hydro-elektrisk Kvælstofaktieselskab (literally, “Norwegian hydro-electric nitrogen limited”) by Sam Eyde. The Norwegian government owns approximately 40% of the company at the present time. Norsk Hydro is one of the largest aluminium companies in the world, with plants in Rjukan, Raufoss, Vennesla, Karmøy, Høyanger, Årdal, Sunndalsøra, and Holmestrand. Norsk also has several plants abroad, including in Germany and Brazil.