Akastor ASA says that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA.

Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), a leading U.S. commercial shipyard, and previously President & CEO of AKPS, will assume his new position in Akastor ASA on August 10, 2015. Aker ASA will propose to the nomination committee of Akastor ASA that Frank O. Reite takes the position as Chairman of the Board of Akastor ASA later this year.

"I am very pleased that Kristian has accepted the position at the helm of Akastor. Kristian has been instrumental in the successful turnaround process at Aker Philadelphia Shipyard, as both Chairman and CEO,” says Øyvind Eriksen, Chairman of the Board in Akastor ASA, and CEO of Aker ASA.

“Kristian’s experience, competence and track record will constitute a unique force in Akastor. At the same time, I would like to thank Frank for his efforts in establishing Akastor. Since the split of Aker Solutions last year, Frank and his team have taken the businesses in the portfolio of Akastor to be independent, strong and well-run companies. All of Akastor’s investments are now established with individual boards, management, names and identities, and are well positioned to be developed into attractive investments to its shareholders.”

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