US private investment firm Clayton, Dubilier & Rice (CD&R) has appointed former Statoil and BG Group boss Helge Lund as an operating advisor to CD&R's funds.
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Lund. Image from BG Group/Shell. |
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 & Co.
At BG Group, 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 in February 2016 for approximately US$50 billion.
During his 10-years at Statoil, 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 $23 billion (NOK 189 billion) to more than $60 billion (NOK 500 billion) under 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 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, 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.
Lund is a director at Schlumberger and previously served on the board of directors at Novo Nordisk A/S and Nokia Oyj. Lund graduated from the Norwegian School of Economics & Business Administration with a M.A. in Economics and holds a M.B.A. from INSEAD.
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