ODIM cuts corporate management

(Hareid - 2 November 2009): ODIM has resolved with effect from 1 November 2009 to reduce its corporate executive team from 11 to seven functions in order to achieve a more efficient and cost-optimised leadership.

A smaller, tighter and more flexible management team will make ODIM better adapted to today’s market conditions. The group is also working other organisational changes, which will be finalised at a later stage. “Our objective is to be among the best of the companies we can be benchmarked against,” comments acting chief executive Arild Hatløy. “In line with that goal and in accordance with our communicated ambition of achieving cost cuts, we have decided to start at the top and slim down our top management." “Our ambition is to have a leaner and more operational corporate executive team which can give us a more concentrated focus on operations and the market.” ODIM is dispensing with a separate chief operating officer and senior vice president for human resources at group level. Functions attached to these posts will be transferred in part to other members of the corporate management and in part to operational units. Communication, and research and development are being removed from the corporate executive team as well. The heads of these two functions will retain their responsibilities and report to the senior vice presidents for staff functions and sales and marketing respectively. Following these changes, the corporate executive team will comprise: - Arild Hatløy, acting CEO and CFO - Håvard Haanes, senior vice president for staff functions with responsibility for business development, information technology, HR, communication, and health, safety, the environment and quality - Torgeir Haugan, senior vice president for Global Operations - Bjørn Roger Andersen, senior vice president for Global After Sales & Service - Idar Hatløy, senior vice president for Global Sales & Marketing - Andrew Roy, senior vice president for Naval & Power. Financial reporting for each of ODIM’s business areas – Offshore Service Vessels, Subsea & Deepwater Installation and Naval & Power – will continue as before.