Svein Richard Brandtzæg has been named chief executive of Norsk Hydro
ASA, following the resignation of Eivind Reiten, effective March 30,
2009. Reiten has informed the Board of Directors that he wishes to
step down after nearly eight years heading the company.

"The board regrets that Eivind Reiten has decided to resign, but has
respect and understanding for his decision in light of the long
period he has led the company," says Hydro's chair of the board,
Terje Vareberg.

"At the same time, the board is very pleased that a very capable and
experienced Hydro leader has agreed to succeed Reiten."

Svein Richard Brandtzæg, 51, is an executive vice president in Hydro
with responsibility for the Aluminium Products business area, Hydro's
aluminium semi-fabrication activities with about 16,500 employees.
Brandtzæg, who holds a Ph.D. in chemistry from the Norwegian
University of Science and Technology (NTNU) in Trondheim, Norway. He
is also head of the Hydro Technology Board.

Since he began with the aluminium company Årdal og Sunndal Verk in
1985, Brandtzæg has had a number of leadership positions throughout
the value chain in Hydro's aluminium activities - both in metal
production and semi-fabrication, and in Norway and abroad.

"Brandtzæg has uncommonly broad expertise and very solid experience
from Norwegian and international aluminium business, and he has shown
himself to be a strong and extremely dynamic leader throughout 23
years in Hydro," says Vareberg.

Reiten resigns after eight years as chief executive
Eivind Reiten, 55, has worked in Hydro since 1986, and has led the
company since May 2001.

"I have always considered seven to eight years as an appropriate
horizon for my time as head of Hydro. This spring will be my eighth
year, so now the time is right to make way for a new leader," Reiten
says.

In the course of nearly 23 years in Hydro, Reiten has had a number of
leadership positions in aluminium, magnesium, agriculture, oil and
energy. He has led Hydro through the most wide-ranging restructuring
of the company's entire 103-year history, from an industrial
conglomerate to today's aluminium and energy company.

"Eivind Reiten has made his mark as one of Norway's foremost
industrial leaders. As chief executive in Hydro, he has been in the
front lines of a demanding, but wholly necessary, restructuring in
the company, which has laid the foundation for internationally
competitive activities in agriculture, oil and energy, and
aluminium," says Vareberg.

Reiten has also served as oil and energy minister, fisheries
minister, and under-secretary of the finance ministry in the
Norwegian government.

Under Reiten's contract with Hydro, which was established in 2001 and
renegotiated in 2004, he will receive three years' salary. Complete
details regarding compensation are included in the annual report on
the company's web site www.hydro.com and Note 11 to the consolidated
financial statements "Employee and management remuneration".


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