Statkraft management has announced the promotion of Birgitte Ringstad Vartdal as the group president and chief executive officer (CEO) to replace Christian Rynning-Tønnesen who is stepping down after 14 years of leading the Norwegian energy group.
Rynning-Tønnesen was appointed CEO of Statkraft in 2010, before which he served as the CEO of Norwegian paper company Norske Skog. He previously worked with Statkraft between 1992 and 2005. He announced his decision to step down in October 2023.
Vartdal has been leading the group's largest business area of the Nordics as the executive vice president over the last 2 years. She has also led the company's European Wind and Solar business wherein she was responsible for the development of wind and solar power in Europe.
She was also in charge of group procurement and project delivery for Statkraft.
A Master of Science in Financial Mathematics from Scotland's Herriot Watt University, Vartdal was also a member of corporate assembly at Equinor. At present, she serves on the board of Renewable Norway and several of Statkraft's subsidiaries.
"Birgitte has a broad and relevant background as an Executive Vice President at Statkraft, and as CEO and CFO at the shipping company Golden Ocean. She is a very capable and assertive leader with the qualities required to lead a large international company," said Chair of the Board of Directors at Statkraft, Alexandra Bech Gjørv. "It is a strength that we are appointing a new CEO from within our own ranks, who knows the company, the organisation, and our key stakeholders well."
Having started out as a hydropower company, Statkraft has diversified in the renewables space to wind and solar energy as well. It counts a total portfolio of more than 400 renewable projects in its kitty today. It targets to achieve 4 GW annual renewable energy installations by 2030, along with 2 GW green hydrogen capacity (see Statkraft Ups Renewable Energy Ambition).
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