Confirming the appointment on Wednesday (Jan 5), Nel said Vodal is expected to assume the position at the end of the second quarter (2022), replacing current CEO Jon André Løkke.

Having served as CEO of Nel for over five years, Løkke expressed that it was time for him to step down and the Board of Directors should find a replacement for him.

Vollda, who joins the company from Q-Free ASA, is set to bring a wealth of expereience to the role and represents a modern leadership culture and market approach.

On the news, Ole Enger, Chair of the Board of Nel, said, “In mid-2021, Jon André expressed to the Board that he had been CEO of the company for over five years and that the time was right to initiate a process for identifying his successor.

“On that basis, the Board initiated a broad international search of available candidates based on a pre-defined set of criteria, including a proven track record on global business development, innovative top line initiatives, operational productivity improvements and growth strategy.

“That process is now completed, and the Board is delighted to announce the appointment of Håkon Volldal as the Company’s new CEO.”

Løkke will continue to serve as CEO of Nel until Volldal officially steps in.

Speaking on the change, Løkke said, “It has been a pleasure to serve as CEO over the latest six years, and to work with the entire Nel team to develop the leading hydrogen technology company in the world.

“The company has a rock-solid platform for the expected growth and expansion. The succession has been planned closely with the Board of Directors, comes at the right time following the opening of our Herøya facility, and provides me with somewhat more flexibility in life.”

On the road ahead, Volldal added, “I have followed Nel’s development over the last years with interest and admiration. The company is a technology-leader and has established an attractive position in a fast-growing market.

“To me this is essential for global success and I look forward to contributing to Nel’s further growth in an industry with enormous potential for value creation and decarbonisation.”