Akastor ASA announced that its Board of Directors has appointed Karl Erik Kjelstad as its Chief Executive Officer, effective from January 1, 2018. Mr. Kjelstad will succeed Kristian Røkke who will assume the position as Chief Investment Officer of Aker ASA on January 1, 2018. Aker ASA will propose to the nomination committee of Akastor ASA that Kristian Røkke is appointed as Chairman of the Board of Akastor ASA at the next Annual General Meeting. Karl Erik Kjelstad has been EVP and Investment Director in Akastor since its establishment in 2014. Mr. Kjelstad joined the Aker group in 1998 and has held various executive positions throughout the Aker group, including EVP of Aker Solutions and CEO of Aker Yards ASA in 2003-2007.