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Kjelstad Appointed EVP Aker Solutions

kjelstad11_smallKarl Erik Kjelstad has been appointed executive vice president and member of the executive management team in Aker Solutions. Kjelstad will lead the development of the strategic initiative related to oilfield services and the company’s fleet of marine vessels. “I am very pleased about Karl Erik Kjelstad joining our team. Our ambition is to become the number one player within light well intervention through our acquisition of Aker Oilfield Services. Kjelstad has a unique experience and very strong competence that I believe will be vital to our success in this area of our operations,” says Simen Lieungh, President and CEO of Aker Solutions. Kjelstad will report directly to the CEO, and will work directly with Aker Oilfield Services and marine partner DOF to realize the potential of recent investments.

Kjelstad (born 1966) comes from the position of Senior Partner & President, Maritime Technologies of Aker ASA. He has been with the Aker group since 1998. Kjelstad was President & CEO of Aker Yards ASA from January 2003-June 2007. Prior to joining Aker, he held the position as senior consultant at PA Consulting Group. From 1992 to 1996 he held various management positions in the TTS Group. Kjelstad is Chairman of Aker Philadelphia Shipyard ASA, Aker Oilfield Services Ltd, and Aker DOF Deepwater. Kjelstad holds a Master of Science (M.Sc) degree in Marine Engineering from the Norwegian University of Science and Technology (NTNU). As of 31 December 2007, Kjelstad holds 2,500 shares in the company, and has no stock options. Kjelstad is a Norwegian citizen. He has been elected for the period 2006-2008. Kjelstad will begin his -de position in Aker Solutions by the end of the third quarter this year.