The chairman of Hydrogen-Pro AS announces two important changes to the HydrogenPro organization with the appointment of a new chairman of the board and directors and a new CEO

Effective 28th August 2020, Mr. Walter Qvam has been appointed as Chairman of the Board

Mr. Qvam has 40 years’ experience from Executive Management and Board positions in international corporations within oil and gas-, maritime-, defense and aerospace- and IT businesses. He has had executive positions in organizations like DNV GL, Gemini Consulting, CapGemini and KONGSBERG – in Norway, East Asia, Continental Europe and Nordics.

Walter stepped down as the President and CEO of Kongsberg Gruppen ASA (KONGSBERG) mid 2016 and has since then devoted his time to non-executive board roles and strategic engagements.

Mr. Mårten Lunde has been appointed as new CEO effective from 1st September 2020

Mr. Lunde has worked with HydrogenPro for nearly two years and steps up from the position of CFO of the company. Mr. Lunde has previously held several positions as CFO and CEO, primarily within the shipping and offshore industries. He had various positions within Fred-Olsen related companies and was CFO of Bonheur and CEO for Fred.Olsen Production.  He was subsequently CEO of Troms Offshore Supply which was owned by HitecVision and later sold to Tidewater Inc.

In relation to the above announcements the outgoing chairman Mr. Terje Mikalsen made the following statement:

“I am extremely pleased to hand over the chairmanship to Mr. Qvam who brings a vast amount of competence and experience to the company as HydrogenPro will enter a new phase of its development and become an industrial company with global ambitions to play a key role in developing a truly sustainable and decarbonized future.  We have pioneered and shaped the green hydrogen future and under Mr. Qvam’s chairmanship, HydrogenPro is destined for an interesting and exciting future. I am also pleased that I will be able to continue as a director of the board and stay close to the company as part of my retirement plan.

Richard Espeseth, the current CEO, founder and largest shareholder of HydrogenPro, will be replaced by Mårten Lunde. Richard will continue to be fully devoted to the company, but will be allowed to focus on business and technology development. Mårten in his past role as CFO has worked closely with Richard, and we are convinced that this is an excellent choice for the company while we are also securing continuity on the senior management level”.

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