Aker Kvaerner Set To Change Name And CEO

Norwegian engineering company Aker Kvaerner is to appoint a new chief executive and is set to transform its image with a name change later this year.

The company says the change to Aker Solutions will represent a "simplification and strengthening of its corporate identity".

"With this clarification of ownership and the many business opportunities we see ahead in the interface between Aker Kvaerner and other Aker companies, we found the time right to change name and clarify our close ties with other companies in the Aker family," says President and CEO Martinus Brandal.

Former Aker Kvaerner executive vice president Simen Lieungh will replace Martinus Brandal, who will be nominated as the company's new chairman of the board.

The proposed name change is subject to approval at the ordinary Annual General Meeting on 3 April 2008.

By Ozge Ibrahim