Eldar Saetre, the most recent former chief executive of Norwegian energy giant Equinor, is set to join the board of industry contracting stalwart Subsea 7.


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Saetre has been proposed as an independent non-executive director of the Oslo-listed company, with the appointment being effective from 1 June this year.

Equinor revealed in August last year that veteran Saetre would relinquish the position of chief executive on 2 November after six years in the top job, and over 40 years with Equinor in which he has served in senior management roles including chief financial officer.

He was replaced by Anders Opedal, who was previously executive vice president of technology, projects and drilling.

Luxembourg-registered Subsea 7 also said on Friday that it has proposed Kristian Siem and Dod Fraser for re-election as directors at the upcoming AGM.

Saetre's entry to the Subsea 7 board comes as Elisabeth Proust steps down as independent director as she will not seek re-election at the next annual general meeting.

Proust spent more than 35 years at French supermajor Total in various leadership roles. She currently sits on the board of UK independent Premier Oil, which is in the midst of a merger with Chrysaor.