Yara nominates former BP chair Helge Lund to lead board

Equinor
BP PLC Sponsored ADR
BGC Group, Inc. Class A

Equinor

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BP PLC Sponsored ADR

BP

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BGC Group, Inc. Class A

BGC

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April 20 (Reuters) - Norwegian fertiliser maker Yara YAR.OL said on Monday it has nominated former BP BP.L and Novo Nordisk NOVOb.CO chair Helge Lund to lead its board, tapping a veteran executive after his recent high-profile exits from both companies.

  • Yara's nomination committee proposed Lund as new chair, with the appointment expected after the company's AGM on May 12.

  • Lund, a Norwegian citizen, is a former CEO of Statoil, now known as Equinor, as well as BG Group and Aker Kvaerner.

  • He is set to replace Trond Berger, who will step down after eight years on Yara's board and six years as chair.

  • Lund left BP after coming under pressure from activist investor Elliott and criticism tied to the oil major's strategic shifts.

  • He also stepped down as Novo Nordisk chair last year, amid disagreements over governance principles.

  • "The Committee is confident that his experience and perspective will be a strong asset to Yara going forward," the fertilizer maker said in a statement.

  • Yara shares rose 0.6% by 1243 GMT.


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