Statoil strategy unaffected by leadership change
A new CEO has been named for the company, but cost cuts are unlikely to change
After more than 10 years at the helm, in October Statoil's chief executive Helge Lund announced his departure for BG Group. The company he leaves faces many challenges, though analysts believe his successor is unlikely to deviate from the company's present strategy. The board named Eldar Saetre as acting president and chief executive, and has established a sub-committee to search for Lund's replacement. Whoever that will be will take over a company that, in the words of Fondsfinans analyst Morten Evjenth Lindbaeck, is "in good shape and [has] further opportunities". But, likes its peers, Statoil is cutting costs and optimising its portfolio. Lindbaeck says the programme laid out in Februar
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