The Board of Directors of Magseis ASA has appointed Dr. Idar Horstad as the company's new Chief Executive Officer. He will succeed co-founder and CEO Ivar Gimse within October 2016. Dr. Horstad currently serves as Senior Vice President of CGG Multi Client and New Ventures.

Dr. Horstad has held a number of management positions in CGG, Fugro and Fugro Geoteam since 2000 and was prior to this a geologist in Saga Petroleum.