Norway's Equinor proposes Jarle Roth as new board chair
Equinor Board Leadership Transition and Strategic Developments
Nomination of Jarle Roth as Board Chair
HELSINKI/OSLO, June 1 (Reuters) - Equinor said on Monday its nomination committee has proposed board member Jarle Roth as the Norwegian oil group's new chair after Jon Erik Reinhardsen decided to step down.
Jon Erik Reinhardsen's Tenure and Departure
Leadership and Achievements
Reinhardsen, 70, has led the board for nearly a decade, overseeing a push into renewables and other low-carbon businesses, an expansion that has slowed in recent years amid rising costs, energy security concerns and U.S. headwinds.
Official Statement on Resignation
"Jon Erik Reinhardsen, who has been the chair of the board since 2017, would like to resign from the board of directors," Equinor said in a statement, without elaborating.
Jarle Roth's Background and Qualifications
Professional Experience
Roth, 66, an independent adviser, joined Equinor's board in December 2025, having previously served as CEO of Norwegian companies Eksportkreditt Norge, Arendals Fossekompani, Umoe Group, Schat-Harding and Unitor.
Industry Expertise
His experience spans industrial investment management, restructuring, energy transition, export financing and global shipping services, Equinor said.
Expected Impact as Chair
"Roth's long experience from different CEO positions, boards and his knowledge of the company will benefit Equinor if he is elected on June 8," a spokesperson said in an email.
Upcoming Events and Strategic Updates
Investor Presentation
The vote comes ahead of an investor presentation in New York on June 16, when management is expected to update its strategy.
Renewables Strategy Adjustment
Over the past year, Equinor has scaled back its renewable ambitions, scrapping a 2030 investment target, cutting planned installed capacity and lowering its net carbon intensity goals, citing rising costs and immature markets.
Board Composition and Cooperation Initiatives
Collaboration with Orsted
Last year, Reinhardsen called for closer cooperation with Denmark's Orsted, the world's largest offshore wind developer, in which Equinor took a 10% stake at the end of 2024 and subscribed to a new share issue last year.
Other Board Nominations
The committee also proposed re-electing Anne Drinkwater as deputy chair, along with board members Finn Bjorn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Dawn Summers.
Reporting Credits
(Reporting by Essi Lehto and Nerijus Adomaitis, editing by Anna Ringstrom and Alexander Smith)
