OSLO, Norway, Sept. 21, 2003 (PRIMEZONE) -- Today, Leif Terje Loeddesoel informed the head of Statoil's (OSE:STL) (NYSE:STO) corporate assembly and the board of directors that he is withdrawing with immediate effect from his position as chairman and member of Statoil's board of directors.
The way in which the debate about Statoil has developed recently has caused him to take the view that his possibility for efficiently leading the board has been weakened. He believes that in the best interests of Statoil, a new chair should be elected.
"Statoil has developed into an impressive group with big opportunities ahead of it. Committed, positive and exciting people deserve all support in bringing the group forward," comments Mr Loeddesoel.