Former CEO of BG Group and Statoil, Helge Lund, Joins Clayton, Dubilier & Rice as an Advisor
LONDON, Sept. 21, 2016 /PRNewswire/ -- Clayton, Dubilier & Rice today announced the appointment of Helge Lund as an Operating Advisor to CD&R's funds. Mr. Lund has a distinguished record of serving in senior leadership positions across a range of multinational corporations, including Chief Executive Officer of BG Group PLC and Statoil ASA.
Mr. Lund is recognized for leading corporate transformations and focusing on operational excellence to build long-term value. His industry sector experience includes energy, industrials and healthcare. Early in his career, he was a management consultant at McKinsey & Company.
At BG Group, Mr. Lund led the transformation of the company, including building a new management team and organizational structure, and implementing a number of operational initiatives that improved safety, reduced operating costs and increased production. He oversaw the sale and integration of the company to Royal Dutch Shell PLC in February 2016 for approximately $50 billion.
During his 10-years at Statoil, Mr. Lund grew the business into one of the world's leading oil and gas companies, with operations in 36 countries. Statoil's market capitalization rose from NOK 189 billion to more than NOK 500 billion under Mr. Lund's leadership. He also oversaw Statoil's $30 billion acquisition of Norsk Hydro ASA's oil and natural-gas division.
"Helge has made a material, positive and lasting impact on the many businesses that he has led," said CD&R Partner David Novak. "We greatly admire his many accomplishments and look forward to him applying his strong leadership skills, bold strategic thinking and operational acumen to CD&R's investment activities and our portfolio businesses."
"CD&R has a stellar record of delivering sustainable performance through operating excellence, strong financial discipline and building strong, values-based cultures," said Mr. Lund. "The Firm's strategy and approach is a great match for me and I look forward to adding my experience and networks to identify new investment opportunities, as well as helping CD&R's portfolio companies become more valuable enterprises."
Prior to Statoil, Mr. Lund served as CEO of Aker Kvaerner ASA, an international industrial group, where he successfully implemented Kvaerner's merger with Aker Maritime, improved the operations of the combined businesses, restructured the business units, and improved financial stability. Prior to this he spent five years at Hafslund Nycomed, a healthcare and energy enterprise, in a number of executive positions, including Chief Operating Officer and Chief Financial Officer of the pharmaceutical business.
Mr. Lund is a Director at Schlumberger Limited and previously served on the Board of Directors at Novo Nordisk A/S and Nokia Oyj. Mr. Lund graduated from the Norwegian School of Economics & Business Administration with a M.A. in Economics and holds a M.B.A. from INSEAD.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $22 billion in 70 companies representing a broad range of industries with an aggregate transaction value of more than $100 billion. The Firm has offices in London and New York. For more information, visit www.cdr-inc.com.
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