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Statoil Sets Up Renewables Unit as CEO Shakes Up Management

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Statoil ASA, Norway’s biggest oil producer, is establishing a unit for renewable energy solutions as Chief Executive Officer Eldar Saetre shakes up his management team three months after taking over the company.

New Energy Solutions will be led by Executive Vice President Irene Rummelhoff, formerly head of exploration in Norway, Statoil said in a statement Tuesday. Hans Jacob Hegge will replace Torgrim Reitan as chief financial officer.