Equinor Names Reitan as New CFO

Norwegian energy giant Equinor has appointed Torgrim Reitan as Chief Financial Officer and executive vice president in Equinor, with effect from October 6, 2022.

Reitan succeeds Ulrica Fearn who has decided to leave the company to pursue a CFO opportunity outside the company. Ulrica Fearn will be available to secure a good handover to her successor until further notice, Equinor said.

Separately, Danish brewery group Carlsberg Group announced that Fearn would join Carlsberg as Chief Financial Officer and a member of the Executive Board. Before joining Equinor, Fearn had 19 years of experience in the beverage industry. 

Commenting on the appointment of Reitan as Equinor's new CFO, Anders Opedal, president and CEO of Equinor said: “I am very pleased to welcome Torgrim back to the Corporate Executive Committee. Torgrim has a very strong background to take on the complex challenge as CFO in Equinor, as we progress our ambition to be a leading company in the energy transition. In the current energy crisis, it is a definite strength to have Torgrim in my top management team, with his experience as CFO, from our upstream business, from trading and operations of natural gas, and lastly, from the acceleration of growth in our renewables business."

“I look very much forward to joining the CEC and to work closely with Anders and his very strong team in handling the current energy crisis, while using my broad experience contributing to drive the momentum in our transformation towards net zero in 2050,” says Torgrim Reitan.

Reitan comes from the position as senior vice president for Finance and Control in Equinor’s Renewables business area. Reitan joined Equinor in 1995. From 2018 –2020 Reitan was executive vice president for Development and production international. From 2015 – 2018 Reitan held the position as executive vice president of Development and Production USA.

Prior to this, he held the position of executive vice president and Chief Financial Officer from 2010 to 2015. He has held several management positions in Equinor prior to this, including senior vice president in trading and operations in the Natural gas business area in 2009-2010, senior vice president in Performance management and analysis from 2007 – 2009, and from 2005-2007 he was senior vice president in Performance Management, Tax and M&A. From 1995 to 2004 Reitan held various positions in the Natural Gas business area and corporate functions.

Reitan holds a Master of science degree from the Norwegian School of Economics and Business administration.