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December 16, 2005

DNV names new CEO
Henrik O Madsen

Henrik O. Madsen has been appointed DNV's (Det Norske Veritas) new Chief Executive Officer (CEO). He will formally take over when Miklos Konkoly-Thege retires in May 2006.

Madsen (52) has 23 years experience in DNV, the past two as head of DNV's Certification business area.

"I am happy that Henrik Madsen has accepted the position as CEO of DNV," says Atle Bergshaven, head of DNV's Board of Directors. "Madsen has a broad and extensive experience in DNV, and has proven his capabilities as a leader by consistently delivering good results. That, and his ability to motivate his colleagues, has convinced the Board that he is the right person to lead DNV."

Madsen started his career in DNV at its Hovik, Norway, headquarters in 1982. In 1990 he became regional manager for DNV's operations in Denmark. He has also been regional manager in Japan (1993-1997), before he returned to H┐vik to manage DNV Maritime's strategy and business developments.

Since 1998, Madsen, as a member of DNV's Executive Board, Henrik O. Madsen has in the period 1998-2005 been responsible for two of the foundations four business areas--Oil & Gas and Certification.

He has also been the head of DNV's Research Department.

Henrik O. Madsen has a doctorate from the Technical University of Denmark in Lyngby, and also a professorship in structural mechanics from the Danish Engineering Academy. He is represented in the U.S. Offshore Energy Hall of Fame for his contribution to the development of risk-based rules for offshore constructions.

Madsen is married and father of three, and lives in Baerum near Oslo.

Internal appointment

When Miklos Konkoly-Thege retires in May next year, he will have been CEO for four years.

"It is clearly a strength for DNV that the Board has chosen an internal candidate as the new CEO. To foster a climate for internal candidates was one of my most important tasks when I took over as CEO on a three year contract in 2002," says Konkoly-Thege, and continues "I will do everything possible to make the transition as smooth as possible."

"DNV has today a strong foothold in the market, has good results and is well-positioned to further develop both in Norway and in the other 100 countries in which we operate," says Konkoly-Thege.

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