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Strategy 2035 6
About Hafslund

Organisation and management

Legal structure

Hafslund is a renewable energy group made up of three business areas: Hydropower (Hafslund Eco Vannkraft), which is Norway’s second largest power producer, District heating and cooling (Hafslund Oslo Celsio), which is Norway’s largest supplier of district heating, and Growth and investments (Hafslund Vekst), which brings together the Group’s industrial ownership and growth initiatives, including ownership of Eidsiva Energi, which includes Elvia, Norway’s largest grid company. Hafslund is 100 per cent owned by the City of Oslo.

Management

Hafslund is headed by CEO Finn Bjørn Ruyter. The Group had just over 800 employees at the end of 2023. Several changes were implemented within the Group management team during the year. At the end of 2023, the Group management team consisted of seven Executive Vice Presidents. In addition to the CEO, the management team includes three directors who represent the three business areas and three directors who represent Group support units.

Ingvild R. Solberg 3

Finn Bjørn Ruyter

CEO

Ingvild R. Solberg 3

Finn Bjørn Ruyter

CEO

Finn Bjørn Ruyter has been CEO of Hafslund since 2012. He was CFO of the company in 2010 and 2011. From 2009 to 2010, he worked at the Filipino hydropower company SN Aboitiz Power. Between 1999 and 2009, he headed the energy division of Elkem ASA, having previously led the power trading business since 1996. Between 1991 and 1996, he worked in oil and power trading at Norsk Hydro ASA. Ruyter holds a Master of Science (MSc) in Mechanical Engineering from the Norwegian University of Science and Technology (NTNU) and an MBA from BI Norwegian Business School. He is Chair of Renewables Norway and serves as a director at Equinor ASA and Cegal AS.

Ingvild R. Solberg 4

Berit Sande

CFO

Ingvild R. Solberg 4

Berit Sande

CFO

Berit Sande took up the position as CFO in August 2022. She previously held the position of EVP Portfolio and Strategy at Norsk Hydro ASA, but also has experience from Hydro Energi. She has extensive experience from Boston Consulting Group (2006-2017), where her principal focus was on the energy industry and renewables. Sande holds a Master of Science (MSc) in Industrial Economics and Technology Management from the Norwegian University of Science and Technology (NTNU).

Ingvild R. Solberg 5

Elise Horn

Executive Vice President Corporate Development

Ingvild R. Solberg 5

Elise Horn

Executive Vice President Corporate Development

Elise Horn joined Hafslund's Group management team in October 2022 and is head of strategy. Horn's area of responsibility was expanded in the first quarter of 2023, and she is now EVP Group Development with responsibility for strategy, HR, sustainability and brand. Horn joined Hafslund in 2018 and has since held several roles, such as adviser to the CEO, head of strategy and development for the power market and head of Group strategy. She has previously worked as a strategy consultant at Arkwright Consulting (2016-2018). Horn holds a Master of Science (MSc) in Industrial Economics from the Norwegian University of Science and Technology (NTNU). She is Chair of Ung i Fornybar (Young People in Renewables).

Ingvild R. Solberg 2

Toril Benum

Executive Vice President Projects

Ingvild R. Solberg 2

Toril Benum

Executive Vice President Projects

Toril Benum took up the position of EVP Business Support and Development in September 2021. She was assigned a new area of responsibility during the first quarter of 2023 and is now responsible for projects in the Group management team. She was previously EVP New Energy. She has been Project Director of the AMS Project at Hafslund Nett since May 2015 and Director of Projects and Development at Hafslund Nett since March 2017. She was previously CIO of Veidekke ASA (2010–2015), and also held several management positions at Aker Solutions. Benum holds a Master of Science (MSc) in Mechanical Engineering from the Norwegian University of Science and Technology (NTNU). She is a director at Eidsiva Energi AS.

Ingvild R. Solberg 7

Martin Sleire Lundby

Deputy CEO and Managing Director of Hafslund Vekst

Ingvild R. Solberg 7

Martin Sleire Lundby

Deputy CEO and Managing Director of Hafslund Vekst

Martin S. Lundby took up the position of Deputy CEO in September 2021 and was appointed as Managing Director of Hafslund Vekst in September 2022. He came from the position of EVP Growth and Investments, and prior to that was EVP Development and Growth. He has been EVP Projects since September 2019, and prior to that was acting CFO at Hafslund (2018–2019). He was also previously Head of Finance and Investor Relations (2016–2018) and Business Developer focusing on M&A and strategy (2013–2015) at Hafslund ASA. He also worked as a Transaction Adviser at EY (2011–2013). Lundby holds an MSc in Industrial Economics and Technology Management from the Norwegian University of Science and Technology (NTNU).

Ingvild R. Solberg

Kristin Lian

Managing Director Hafslund Eco Vannkraft

Ingvild R. Solberg

Kristin Lian

Managing Director Hafslund Eco Vannkraft

Kristin Lian took up the positions of EVP Hydropower and Managing Director of Hafslund Eco Vannkraft in September 2021. From 2019 to 2021, she was Managing Director of Elvia. Lian has a Master of Science (MSc) in Mechanical Engineering from the Norwegian University of Science and Technology (NTNU) and has been working in the energy industry since 1999. She has held various management positions at Hafslund Nett for 20 years, and was EVP and Managing Director of the company from 2013 to 2019. She is Chair of BKK AS and director of Arva AS.

Ingvild R. Solberg 8

Knut Inderhaug

Managing Director of Hafslund Oslo Celsio

Ingvild R. Solberg 8

Knut Inderhaug

Managing Director of Hafslund Oslo Celsio

Knut Inderhaug took over as Managing Director of Hafslund Oslo Celsio in September 2022. He had been acting Managing Director of the company since October 2021. Inderhaug has previously held various management positions at Fortum and Hafslund, where he was first employed in 2010. He holds a degree in Business Administration from Sør-Trøndelag University College.

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